Earlier today West Virginia officials announced a new $83.7 billion agreement with the world’s largest power company, China Energy Investment Corp.. The agreement will create thousands of new jobs across the state in shale gas development and chemical manufacturing in West Virginia over the next 20 years.
The deal is now the largest signed by President Donald Trump during his recent trip to Asia.
The company has agreed to build new power plants, chemical manufacturing plants, and underground storage facilities for liquefied natural gas (LNG), according to a press release by West Virginia’s Department of Commerce.
“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.”
The new deal is expected to significantly bolster West Virginia’s economy for decades to come.