SCG becomes largest shareholder in Vietnam project
Along with this acquisition, SCG’s shares increased to 71% from 46% and the company has become the biggest shareholder of the project, the remaining 29% of which belongs to the Vietnamese parties.
The planned project in Vietnam includes a 1.1 million tons/year of ethylene cracker, which will increase olefin capacity to 1.6 million tons/year. It also aims to develop non-petrochemical supporting infrastructure such as deep-sea ports and other facilities, which will worth 30% of the total investment costs.
The operations at the complex are expected to start in 2021.
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