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||1 December 2009
Thai conglomerate to go ahead with Vietnam petrochem project
Siam Cement Group (SCG), Thailand's largest industrial conglomerate, has decided to proceed with its petrochemical project in Vietnam, with oil firm Qatar Petroleum International as a new partner, a local daily reported.
"Details of the project should be finalised by mid-2010," said SCG President Kan Trakulhoon. "At present, we are evaluating fund-raising sources, which will depend on the project's attractiveness and global financial conditions," he was quoted as telling the Nation, an English-language newspaper.
SCG signed a partnership deal with Qatar Petroleum on November 25, according to the daily. They will hold a 71 percent stake in the $3.5-4 billion project.
Vietnam 's state oil PetroVietnam and Vietnam National Chemical Corp will together hold the remaining 29 percent.
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