Thai SCG aims to strengthen presence in ASEAN via investments

According to media reports, Thailand’s Siam Cement Group (SCG) aims to gain further strength in several businesses including petrochemicals, construction and packaging in line with its ASEAN strategy.

The company is cooperating with Vietnam’s state-owned PetroVietnam for the construction of a petrochemical complex. The company invests around THB188 billion($7.7 billion). A company official referred to this project as SCG’s one of the largest investments in ASEAN.

Apart from Vietnam, SCG already has a significant commercial presence in countries including Cambodia, Laos, Myanmar, Indonesia and the Philippines and plans to expand its presence further domestically and externally by mergers and acquisitions.

SCG’s assets in ASEAN had a worth of THB126.05 billion at the end of last year, which is about 23% of its total asset value.