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Thai SCG looking for partners for petchem project in Vietnam

by ChemOrbis Editorial Team - content@chemorbis.com
  • 18/12/2015 (17:11)
According to media reports, Thailand’s SCG Chemicals, a subsidiary of the Siam Cement Group, is currently in talks with several foreign partners to invest in its proposed $4.5-billion Long Son petrochemical project in the southern province of Ba Ria-Vung Tau in Vietnam. SCG Chemicals holds a 46% stake in the new project.

The company started to seek new investors after Qatar Petroleum International, which owns a 25% stake in the project, announced that they decided to exit the project as part of their restructuring plan in October. SCG Chemicals had previously tried to form an agreement with PetroVietnam, another participant in the project, to sell Qatar Petroleum’s stakes, however the parties could not reach an agreement.

The proposed complex would be Vietnam’s first fully integrated petrochemical facility with a planned production capacity of 1 million tons/year of ethylene. The new complex is expected to be commissioned in 2018.
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