Below are statements and media coverage on China Energy’s announcement and signed Memorandum of Understanding for $83.7 billion dollar investment in West Virginia. It has been reported that the investment will cover a 15-20 year period and include two natural gas fired power plants (tentatively in Brooke and Harrison counties), a methanol facility, and an ethylene glycol/PGA plant.
Plans also include a two-phase investment in the Appalachian Storage Hub. The first phase is reported to be $4 billion and one of the earliest investments planned, the second phase is said to include an additional $20 billion investment in the hub.
This commitment represents what could become the largest investment ever by a Chinese Company outside of China. Job reports vary, but thousands of constructions jobs and potentially more than 1,000 permanent jobs top early estimates. Additional downstream jobs are expected to number in the thousands.
The WVMA congratulates the administration, our congressional delegation, and industry leaders who have worked and will continue to move this vision forward.
What West Virginia leaders are saying about the China Energy announcement
“Expanding Appalachia’s energy infrastructure, including developing a regional storage hub and market for natural gas liquids, will have a transformative effect on our economy, our security, and our future. From driving growth and creating jobs to maximizing America’s energy potential, the benefits for West Virginia and the country from this new investment will be significant and long-lasting,” said WV Senator Shelley Moore Capito.
Marshall President Jerry Gilbert released the following statement on the announcement: “I congratulate Governor Jim Justice, Commerce Secretary Woody Thrasher and Economic Development Director Kris Hopkins on this amazing announcement. This is indeed a game-changer for West Virginia and I could not be more excited about this development and what it means for our state and for Marshall University.”
“This is a great day for the state of West Virginia,” said West Virginia Gov. Jim Justice. “I’ve been saying for the last couple months that the tides are turning in West Virginia and this is proof. Today is another sign as we joined with my good friend President Trump to announce the largest investment in our state’s history.”
“West Virginia has actively sought direct foreign investment to strengthen and diversify our economy,” said WV Commerce Secretary Thrasher. “Toyota Motor Manufacturing, Hino Motors, Gestamp, Sogefi and other solid corporate citizens with international parent companies create jobs, generate incomes and support communities in West Virginia. In that same spirit, we welcome China Energy and the mutual benefits our energy collaboration will bring.”
Media
WV announces $83.7 billion shale gas, chemical deal with China Energy -https://www.wvgazettemail.com/business/wv-announces-billion-shale-gas-chemical-deal-with-china-energy/article_5c921768-fa99-54dc-afbf-46e550c92c7c.html
