PTTGC America said it is looking for a new partner for its proposed petrochemical complex in the US after its joint venture partner Daelim Chemical USA withdrew from the project. In April, PTTGCA expected the coronavirus pandemic to cause a delay on the final investment decision (FID) for the project’s construction. However, the partnership was optimistic it could move forward with the plan.
PTTGCA said it could announce further progress of the project by the end of 2020 or the early part of 2021. The timeline for the project has been delayed by about six to nine months as a result of the coronavirus pandemic, which forces the developers to prioritize the health and safety of all employees and stakeholders.
The companies did not disclose a reason behind Daelim’s exit. The proposed project will include a 1.5 million tons/year cracker and downstream polyethylene production units. Earlier this year, PTTGCA was granted an extension on an air permit required to construct the proposed cracker.
