Group building materials SCG in Thailand is planning increase investment in Vietnam, especially in cement and petrochemical segment bullets.
SCG Group has invested $ 700 million in Vietnam since 1992. On January, the 23rd, CEO of SCG in Vietnam, Mr. Dhep Vongvanich said the group determined to build a cement factory in Vietnam and continued team building Long Son petrochemical complex worth $ 4.5 billion, although the previous one in four important partners – Qatar Petroleum has withdrawn from the project.
Mr. Dhep said: “Our objective is have to a cement factory here … We are studying whether to invest all or a joint venture.” According to Mr. Dhep, SCG has nearly 7,000 workers in Vietnam, which has about 100 employees Thais.
SCG Thailand Group has determined to build a cement factory in Vietnam
As reported by the SCG launched at a conference in Singapore in January, to April 9/2015, Indoensia’s largest investment destination of this group with total assets worth 43.8 billion baht (nearly 121.6 million), followed by Vietnam with 25.7 billion baht (71.3 million) and Cambodia with 10.77 billion baht ($ 30 million). However, in the first 9 months of 2015, Vietnam’s biggest grossing with 22.24 billion baht (61.7 million dollars).
According to Mr. Dhep, SCG recently met Vietnam authorities to reaffirm commitment to the Long Son petrochemical project and the Government of Vietnam has expressed absolute support. He affirmed: “Vietnam has a political stability, low energy costs and hardworking people. This is our chance because in Thailand, business real estate and construction is slowing”.