The Siam Cement Group (SCG) has finalised plans to build a Bt188 bln petrochemical complex in Vietnam in a joint venture with Vietnam Oil and Gas Group (PetroVietnam), as per nationmultimedia.com. The group has already invested Bt30 billion for the proposed petrochemical complex, mainly for the acquisition of land. Construction work will start next year and the complex will start commercial operations by 2022.
SCG holds a 71% stake in the joint venture while the balance 29% is owned by PetroVietnam. The project will use state of the art technology and prove a competitive proposition due to its full upstream and downstream integration. Production at the petrochemical complex would accommodate a flexible feedstock with Olefin production capacity at 1.6 tonnes per annum. It would also substitute the import of petrochemical products in Vietnam, as well as cater to growing domestic demand in the country.