27-Apr-17 Siam Cement Group (SCG), Thai industrial conglomerate, is setting its sights on developing a petrochemical complex in Indonesia, by conducting a feasibility study on project with potential partner PT Chandra Asri Petrochemical Tbk (CAP). The feasibility study for the petrochemical complex is expected to be completed in 2018.
As per Bangkokpost.com, the two companies have been traditional partners for years, as SCG has owned a 30.6% stake in CAP since 2011. That, in turn, has encouraged the two firms to join together in developing a petrochemical complex in Indonesia. "CAP wants to expand its second petrochemical plant as well as develop a new petrochemical complex in Indonesia, so it has invited us to join the project, since we have been a good partner for many years," President and chief executive Mr Roongrote said.
