| 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.
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