Bulk of China deal development likely along Ohio River
CHARLESTON — West Virginia Gov. Jim Justice and Secretary of Commerce Woody Thrasher said the bulk of the development from an $83.7 billion investment deal with a Chinese company will take place in the Ohio River basin.
In the Governor’s Reception Room at the Capitol today, Justice and Thrasher spoke about the deal, which was announced last week during President Donald Trump’s trade mission to China. A memorandum of understanding was signed with China Energy Investment Corp. Ltd. to make the investments over 20 years with a focus on power generation, chemical manufacturing and underground storage of natural gas liquids and derivatives.
The governor and commerce secretary said today that they expect construction to be under way a year from now, but no specific locations were mentioned. They said the deal is expected to provide benefits across the state in terms of direct and support industries, but a great deal of development will take place along the Ohio River, where the resources are located.
Read more in Tuesday’s edition of The Parkersburg News and Sentinel.