The resignation and imprisonment of the CEO of a Brazil-based firm that has proposed building a $4 billion ethane cracker plant in Wood County hasn't derailed discussions between company executives and West Virginia economic development officials, according to Gov. Earl Ray Tomblin's office.
Marcelo Odebrecht, president and CEO of Odebrecht SA, resigned this week, six months after he was arrested in Brazil on charges he took part in a scheme that stole billions of dollars from a government-run oil company.
In 2013, Odebrecht's parent company announced it was developing plans for a petrochemical complex near Parkersburg.
An Odebrecht-owned company called Braskem USA would operate the multi-billion-dollar plant, if it's ever built.
"Braskem and Odebrecht continue to evaluate the business model for a proposed Wood County facility," said Chris Stadelman, spokesman for Tomblin. "West Virginia officials remain committed to providing an assistance the company may need during that process. Discussions continue."
Falling natural gas prices have clouded the plant's future. In April, Braskem and Odebrecht announced they were re-evaluating their options for the Wood County petrochemical complex - called Project ASCENT.
"Ultimately, all companies considering such large investments must consider the overall energy market before determining whether to proceed," Stadelman said.
In a press release this week, Odebrecht officials said Marcelo Odebrecht was innocent, but resigned to "concentrate on his defense." Marcelo Odebrecht also was chairman of Braskem.
Odebrecht SA is Latin America's largest engineering and construction company.
Odebrecht officials have previously said they would decide by the end of this year whether to start construction on a cracker plant in West Virginia.
The project would create thousands of construction jobs and the cracker plant would employee hundreds of workers, state officials have said.
Reach Eric Eyre at ericeyre@wvgazettemail.com, 304-348-4869 or follow @ericeyre on Twitter.
