Developers postpone planned plastics manufacturing facility in Ohio

first_imgDevelopers postpone planned plastics manufacturing facility in Ohio FacebookTwitterLinkedInEmailPrint分享Inside Climate News:The developers of a proposed plastics manufacturing plant in Ohio on Friday indefinitely delayed a final decision on whether to proceed, citing economic uncertainties around the coronavirus pandemic.Their announcement was a blow to the Trump administration and local economic development officials, who envision a petrochemical hub along the Ohio River in Ohio, Pennsylvania and West Virginia.Environmental activists have opposed what they say would be heavily polluting installations and say bringing the petrochemical industry to this part of Appalachia is the wrong move for a region befouled for years by coal and steel.Thailand’s PTT Global Chemical America and South Korea’s Daelim Industrial have been planning major investments in the $5.7 billion plant, 60 miles southwest of Pittsburgh, for several years.On the site of a former coal-fired power plant, the facility would have turned abundant ethane from fracking in the Marcellus and Utica shale regions into ethylene and polyethylene, which are basic building blocks for all sorts of plastic products.In March, financial analysts with IHS Markit, a global information and data company, and the Institute for Energy Economics and Financial Analysis (IEEFA), a nonprofit think tank, agreed the project was in trouble even before the coronavirus began to shrink the global economy.  A global backlash against plastics, low prices and an oversupply of polyethylene, were all signs of troubling economic headwinds before Covid-19 sent world oil prices tumbling, disrupting the petrochemicals industry.[James Bruggers]More: Developers put a plastics plant in Ohio on indefinite hold, citing the Covid-19 pandemiclast_img

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