industrialinfo.com - Siam Cement Backing $3.77 Billion Petrochemical Complex in Vietnam

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Siam Cement Backing $3.77 Billion Petrochemical Complex in Vietnam

JOHANNESBURG--July 24, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--After going through a period of stops and starts over the past decade, Vietnam appears to be moving forward with petroleum refining and petrochemical projects. Vietnam's central government has granted a license to Long Son Petrochemical Company Limited to proceed with the construction of a $3.77 billion petrochemical complex in the southern province of Ba Ria-Vung Tau. Siam Cement PCL (BAK:SCC) (Bangkok, Thailand) will have a 71% stake in the project. The government is also pushing refinery projects with the aim of becoming self-sufficient in oil products. The 200,000-BBL/d Nghi Son refinery in Thanh Hoa province is due for completion in 2013. A consortium made up of PetroVietnam, Kuwait Petroleum International and Japan's Idemitsu Kosan Company Limited (TYO:5019) (Chiyoda, Tokyo) is building the $6 billion project.

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Industry Segment: Chemical Processing
Word Count: 469 Words

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