Siam Cement rolls out joint venture with PetroVietnam
VOV.VN - Thai based construction material conglomerate, Siam Cement Group, together with PetroVietnam have unveiled plans to joint venture a US$5.6 billion petrochemical complex.
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The plant, the first of its kind in Vietnam, will be located 100km from Ho Chi Minh City in Dong Nai Province with SCG possessing a 71% equity interest and PetroVietnam holding the remaining 29%, reports DealStreet Asia.
Once placed in operation in early 2022, the Long Son Petrochemicals project will have capacity to develop a one-million-ton ethylene cracker that can produce up to 1.6 million tons of olefins annually.
Meanwhile, leaders of SCG met Monday, August 7, with the Dong Nai Province People’s Committee to discuss investment in infrastructure in the region such as airports and roadways that would be necessary for the petrochemical complex to operate effectively.
