Shell Chemical LP has exercised its option to purchase a Monaca, Pa., site where it has proposed building a world-scale ethylene cracker, site owner Horsehead Holding Co. announced Friday.
The announcement that Shell will purchase Horseheads' former zinc smelter site reaffirms Shell's interest in building a petrochemical facility, which the oil and gas company first proposed in 2012, stated the Pittsburgh Regional Alliance (PRA), the marketing affiliate of the Allegheny Conference of Community Development (ACCD). It "is an important step forward in making the proposed facility a reality," PRA added.
"We recognize that this land acquisition in Potter Township is yet another significant step in the progress of the project but it doesn't signal a final investment at this time," noted PRA President Dewitt Peart. "However, for those of us who drive by the site on a regular basis, it's clear that the landscape is changing and substantial demolition is occurring."
Shell Chemical is performing a multi-year review of the site that includes environmental analysis, engineering design studies, evaluation of ethane supply and economic viability, PRA reported. A previous DownstreamToday article provides additional background on the project.
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