Overnight, West Virginia received some exciting news as President Donald Trump continues his trip in Asia.
China Energy Investment Corporation signed a memorandum as part of the United States-China Trade Mission trip, to invest $83.7 billion in West Virginia.
“This is more than just a shot in the arm. This is enough to really change the way that West Virginia jobs and West Virginia’s economy is flowing,” Senator Shelley Moore Capito said.
The director of the WVU Energy Institute played a huge role in making this agreement come to life.
“WVU and the state of West Virginia has a long history of research and collaboration with the Shenhua group. This particular agreement is taking it to the next step of a number of different investment opportunities for china energy in the state of West Virginia,” Dr. Brian Anderson told us.
These investment opportunities will allow the conversion of our natural gas resources into everyday products like plastics, carpets, diapers and water bottles.
“It’s complex, it’s big and it’s exciting. Particularly because it would be the largest investment in the history of West Virginia, and also it’s the largest investment in the United States by a company in China,” Dr. Anderson explained.
Commerce officials say this deal is part of an overall $250 billion of planned Chinese investments in the United States.
“I am a West Virginian, and I want to see West Virginia thrive. The resources we have, and I’m not talking about what’s underground, I’m talking about the people resources we have in the state, are incredible,” said Dr. Anderson.
We will begin to start seeing these projects roll out here throughout West Virginia in the next couple of months, and it will bring thousands of jobs to our state.