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World News and Views :: Projects

Siam Cement, Qatar Petroleum in Petchem JV in Vietnam

10:17 PM MST | November 26, 2009 | Deepti Ramesh

Siam Cement Group (SCG; Bangkok) says it has signed a framework agreement with Qatar Petroleum International (QPI), a subsidiary of Qatar Petroleum (QP) to build a petrochemical complex in southern Vietnam, along with Petrovietnam (Hanoi) and Vinachem (Hanoi). The petchem complex, which will be located at Long Son Island, 100 kms from Ho Chi Min City, will involve a total investment of about $3.5 billion-$4 billion. Petrovietnam and Vinachem will hold 29% stake in the project and the remaining 71% stake will be held by SCG, QPI and an international trading firm...

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