SCG sign JV for viet petro-chemical plant

SCG sign JV for viet petro-chemical plant

Thailand’s construction material giant Siam Cement Group (SCG) has signed a joint venture agreement with Vietnam Oil and Gas Group (PetroVietnam) to build the first petrochemical plant in Vietnam. 

 The USD5.6 billion project, located 100km from Ho Chi Minh City in south Vietnam, will see construction of a one million ton ethylene cracker, the development of a deep sea port and other infrastructure required to support the enormous complex. 

Production will help service Vietnam’s rising domestic demand and reduce it reliance on imports.

SCG, also in a cement JV with Chip Mong in Cambodia, will own 71 percent of the Long Son Petrochemicals project with PetroVietnam owning the other 29 percent. 

Construction on the project is expected to start in 2018 with the complex going operational in 2022.

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