ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Thailand's PTT finds petrochemical partner for US project

South Korea's Daelim Industrial to help push forward $5.7bn Ohio venture

A natural gas rig in Springfield Township, Pennsylvania. The site lies in the center of a deep repository of natural gas that runs through West Virginia, Ohio, Pennsylvania and New York in the northeastern U.S.   © Reuters

BANGKOK -- Thailand's PTT Global Chemical, the petrochemical arm of state-owned oil and gas company PTT, has found a South Korean partner to help advance its $5.7 billion petrochemical complex project in the U.S. state of Ohio.

Wholly-owned subsidiary PTTGC America signed an agreement on Monday with Daelim Industrial, a South Korean construction and petrochemical company, to conduct a feasibility study by 2019 for the ethane cracker project, to include front-end engineering and design and securement of funding, followed by a final investment decision. Construction is expected to take four years.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more