In February of this year, PTT Global Chemical adamantly claimed a final investment decision (FID) to build the $10 billion ethane cracker plant project in Belmont County, OH would happen by “middle of 2021” (see PTT Says Recent Reports of Ohio Cracker Decision Delay “Not True”). They lied. Again. Last week we told you that since May, PTT Global Chemical’s parent company, PTT Pcl (Thailand’s biggest company by far), has spent almost $10 billion to build an electric vehicle business and buy up petrochemical assets in Europe and renewable-energy projects in Asia (see PTT Blows $10B on Renewables Since May, Still No OH Cracker FID). Yet they can’t scrape together the money to build the Ohio cracker plant. PTT Global Chemical has finally come clean and admitted there will be no FID for the cracker plant–not until they secure a partner to help finance the project. In other words, it’s on indefinite hold.
