Thailand's Siam Cement Group, which has invested 700 million USD in Vietnam since 1992, plans to expand its operations in the country, especially in the cement and upstream petrochemical sector.
Bangkok (VNA) - Thailand's Siam Cement Group (SCG), which has invested 700 million USD in Viet Nam since 1992, plans to expand its operations in the count𓆏ry, especially in the cement and upstream petrochemical sectors, according to Thailand’s “The Nation” newspaper.
SCG Vietnam Executive Director Dhep Vongvanich said that the group was determined to open a cement factory in Vietnam .
The SCG will also continue the construction of the 4.5–billion USD Long Son integrated petrochemical complex in the southern province of Ba Ria – Vung Tau, despite the recent withdrawal of Qatar Petroleum, one of the four key partners in the project, he said.
Dhep Vongvanic said the group is looking at investing in upstream petrochemicals in Vietnam since the country still has to import all of its upstream petrochemical products. About 80 to 90 percent of the output from the project will serve domestic demand, he added.
He said the Thai group currently employs nearly 7,000 people in Vietnam , including about 100 Thai staff members.
According to the SCG's presentation at a conference in Singapore earlier this month, as of September 2015, Indonesia was the company’s largest investment destination with assets worth 43.8 billion THB (1.23 billion USD), followed by Vietnam with 25.7 billion THB (726.8 million USD) and Cambodia with 10.77 billion THB (304.6 million USD).
However, in the first nine months of 2015, Vietnam reported the largest sales worth 22.24 billion THB (628.7 million USD)./.-VNA
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Illustration photo. (Source: Internet)
