I learned over the weekend that a major step has been taken to get the FID for the PTTDLM cracker plant a step closer. The Belmont County Port Authority, which has led the local effort to secure the site for PTTDLM in Dilles Bottom, has played another leadership role in reaching the tax abatement agreements with the Belmont County’s Mead Township, the local school district, and commissioners.
The PTTDLM and its financiers worked closely the county organizations to achieve this accord. “We are pleased by the cooperation that we received from all parties,” stated Larry Merry, Belmont County Port Authority Executive Director. This agreement removes all hurdles at the county level for the construction to begin very soon once the FID is announced.
“The long-term benefit of this agreement bodes well for all government bodies in Belmont County,” Merry further added. “It will also improve the Shadyside Local School District’s facilities and in some instances, construct new school buildings.”
The PPTDLM cracker plant is projected to cost between $7-$9 billion and will employ approximately 6,000 workers during construction. The Shell cracker plant projects similar numbers, but its costs are rumored to be $10 billion and at the time of the COVID-19 temporary shutdown, had 8,000 construction workers on site.
As we reported last Friday, the FID for the PTTDLM cracker plant is slated to be made late June or mid-summer. Stay tuned.