The state's semi-private economic development office has awarded a 30 million dollar grant to Asian companies considering building a petrochemical plant in Belmont County.
JobsOhio officials say the grant to a partnership between Thailand's PTT Global Chemical America and South Korea's Daelim Industrial is to help finance site development work. JobsOhio previously paid 14 million to cover the cost of dismantling a coal-burning power plant at the site where the partnership is considering a multibillion dollar ethane "cracker" plant. The facility would convert ethane, a byproduct of natural gas drilling, into ethylene, the raw material used in manufacturing ubiquitous plastic products. Officials have been awaiting the partnership's commitment to build a plant viewed as a spur for future development in a struggling region.
