While on a major international swing through Asia this past week, U.S. President Donald Trump oversaw the signing of a Memorandum of Understanding (MOU) between China Energy Investment Corp. and the state of West Virginia, promising massive investments in that state’s shale gas development and chemical manufacturing. The deal would potentially pump $83.7 billion into West Virginia’s economy over the next two decades including the beginning of the long sought-after natural gas hub for the state for the storage of natural gas liquids and derivatives.
When built, the hub could potentially see massive growth in additional investment by plastics-related industries as companies seek to locate closer to their supply chains. Planning for the projects is currently underway.
This investment has the potential to create thousands of jobs for the state and shows that the Trump Administration recognizes the importance of shale and the natural gas industry for future energy independence and manufacturing in the United States. PLASTICS will continue to provide updates as details develop and unfold.
Souce: PLASTICS INDUSTRY ASSOCIATION
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