VIETNAM: SCG Chemicals seeking new partners for Long Son PC complex
Siam Cement Group’s SCG Chemicals subsidiary is proceeding with plans for the Long Son petrochemical complex in Vietnam, but is seeking new partners following Qatar Petroleum International’s recent withdrawal of its 25% interest.
The USD4.5-billion complex, to be built in Ba Ria-Vung Tau province, will be comprised of a 1.4-million-t/y olefins cracker and the downstream production of 2.7-million t/y of polyethylene and polypropylene.
“We need to look for new partners and we are talking with a few companies,” said SCG Chief Executive Kan Trakulhoon, as quoted by local media. “But we are still confident everything will go ahead as planned and SCG will remain a major shareholder.”
SCG currently holds a 46% interest in the project, with PetroVietnam holding 29%.
Source: Weekly “PetroChemical News”, Durham, NC, USA; 21 Dec 2015
(Syed Rashid Ali, Karachi, Pakistan)
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