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Home  >>  Daily News  >>  Vietnam News  >> Investment  >>  Thai conglomerate to go ahead with Vietnam petrochem project
NEWS UPDATES 1 December 2009

Thai conglomerate to go ahead with Vietnam petrochem project

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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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