| Gov. Earl Ray Tomblin said Thursday that Odebrecht, a Brazilian company, will explore the development of a new multi-billion dollar petrochemical complex in Wood County.|
The complex, Ascent, Appalachian Shale Cracker Enterprise, would include an ethane cracker, three polyethylene plants, and associated infrastructure for water treatment and energy co-generation.
A purchase option on the anticipated land in Parkersburg has already been secured.
"Although we realize much work remains to be done, this announcement of a potential project is tremendous news for our state and our region," said Gov. Tomblin.
I appreciate the hard work of my team from the Development Office and the Ascent team members who have come together to explore this investment. I look forward to working closely with them to help bring the project to fruition," Gov. Tomblin said.
The construction will depend on several important variables, including the contracting of long-term ethane supply, as well as financing, regulatory approvals, and appropriate governmental support.
The company would not comment on how many jobs would be produced by the project.