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| Siam Cement builds petrochemicals complex in Vietnam Siam Cement (SCC), Thailand's top industrial conglomerate, entered into a joint venture agreement with Vietnam Oil and Gas Group (Petrovietnam) and Vietnam National Chemical Corporation (Vinachem) to build Vietnam's first world-scale petrochemicals complex. SCC is expected to hold a combined 71% stake in the project, while the Vietnamese joint venture partners will hold the other 29% stake. It should be noted that the total project investment of approximately US$ 3.5-4.0 billion. Located on Long Son Island in southern Vietnam (province of Ba Ria Vung Tau), the Greenfield petrochemicals complex will be located adjacent to Vietnam's third oil refinery for operational synergy. In addition, there are expected numerous derived synergies with important Vietnamese industries such as automotive, consumer good packaging, and aluminum, all of which will help contribute to the rapid growth of the Vietnamese economy. With a total population of 85 million people, and the relatively low per capita plastic consumption, its future growth is forecasted to grow rapidly. write your comments about the article :: © 2008 Construction News :: home page |