SCG mulls expansion in Vietnam, especially in cement and upstream petrochemical businesses

25-Jan-16

SCG, that has invested US$700 mln (Bt25.2 bln) in Vietnam since starting up operations in 1992, is looking seriously at expanding further in the country, especially in the cement and upstream petrochemical businesses. SCG runs 22 operations in Vietnam, including two acquired last year - Prime Group, the largest ceramic tile player in Vietnam, and Tin Thanh Packing (Batico), a flexible packaging company, as per Reuters. Dhep Vongvanich, country executive director - Vietnam of SCG, said that the leading Thai industrial conglomerate was determined to run a cement factory in Vietnam and would push ahead with its $4.5-billion integrated petrochemical complex here, despite the recent withdrawal of Qatar Petroleum, one of the four key partners in the project, dubbed as Long San Petrochemicals. SCG is talking with three to four potential partners to succeed Qatar Petroleum and expects to finalise the negotiations this quarter. The startup of the Long San Petrochemicals project will be delayed by no more than six months from late 2019 to early 2020.