News Room - Business/Economics

Posted on 01 Dec 2009

Siam Cement goes ahead with petrochemical plant in Vietnam

Siam Cement Group (SCG), Thailand's largest industrial conglomerate, has decided to proceed with its petrochemical project in Vietnam, with oil firm Qatar Petroleum International as a new partner, local newspaper reported on November 26.

 

"Details of the project should be finalised by mid-2010," said SCG President Kan Trakulhoon. "At present, we are evaluating fund-raising sources, which will depend on the project's attractiveness and global financial conditions," he added.

 

SCG signed a partnership deal with Qatar Petroleum on November 25, according to the Nation daily. They will hold a 71 per cent stake in the project which is worth US$3.5-4 billion.

 

Vietnam 's state oil PetroVietnam and Vietnam National Chemical Corp will together hold the remaining 29 per cent.