MONACA, PA—Pennsylvania Real Estate Investment Trust says Shell Chemical's acquisition of a 1,000-acre former zinc smelter in Beaver County, PA, is a positive development for PREIT's Beaver Valley Mall. Shell is planning an ethane cracker plant on the smelter site.
"We are encouraged by the progress being made toward the proposed new cracker plant. This transaction creates tremendous opportunity for Beaver Valley Mall and sets the stage to completely revitalize the trade area," says Joseph F. Coradino, PREIT CEO. "As plans move forward, the construction of this multibillion dollar facility will create significant economic activity and new jobs and produce nearly $5 billion in chemical output, making Monaca a critical piece of the manufacturing and industrial activity in the region."
As proposed, Shell would utilize the petrochemical plant to chemically "crack" and convert ethane from the Marcellus Shale into polyethylene, which is used to manufacture plastic products.
According to a study by Robert Morris University's School of Business from December 2014, construction of the plant is expected to result in an increase in construction and ancillary employment by an annual average of approximately 3,700-4,600 jobs in Pennsylvania over the five-year construction period.
Once the plant is open, it is expected that over 5,000 plant and ancillary jobs will be created in Pennsylvania with approximately 400-900 in Beaver County.
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