Siam Cement acquires 100 percent stake in petrochemical project
Siam Cement Public Company Limited (SCG) signed an agreement with Vietnam Oil and Gas Group (PetroVietnam) to acquire the latter’s equity stake in Long Son Petrochemical Co. Ltd.
After the withdrawal of Vinachem, Qatar Petroleum International and now PetroVietnam, SCG is the sole investor of the project with a 100 percent equity stake. (Photo: hanoitimes.vn)
Hanoi (VNA) -Siam Cement Public Company Limited (SCG) signed an agreement with Vietnam Oiland Gas Group (PetroVietnam) to acquire the latter’s equity stake in Long SonPetrochemical Co. Ltd.
Under the agreement, SCGwill acquire 29 percent stake for more than 2.05 trillion VND (around 90.3million USD).
The transaction, madethrough SCG’s wholly-owned subsidiary in the chemicals business, Vina SCGChemicals Co Ltd, is expected to be completed by the end of June 2018, theThailand-based cement group said in a press release on May 28.
Upon completion of thedeal, SCG’s indirect stake in Long Son petrochemical project will increase from71 percent to 100 percent, of which Vina SCG Chemicals holds 82 percent andThai Plastic and Chemicals Public Co. Ltd holds 18 percent, SCG said.
Long Son petrochemicalproject, located in Long Son Petrochemical Industrial Park in Vung Tau city, isa key petrol and oil project of the Vietnamese government. Long Son isthe third petrochemical complex in Vietnam after Dung Quat oil refinery andNghi Son oil refinery and petrochemical complex.
Licensed in 2008 with aninitial investment capital of 3.7 billion USD, the project has raised upto 5.4 billion USD in investment. It is designed to produce up to 1.6million tonnes of olefin per year.
After the withdrawal ofVinachem, Qatar Petroleum International and now PetroVietnam, SCG is the soleinvestor of the project with a 100 percent equity stake.
The Thai group said thecommencement of engineering, procurement and construction activities for theproject would begin in the third quarter of 2018, with targeted commercialoperations in the first half of 2023.-VNA
Prime Minister Nguyen Xuan Phuc gave the order to start construction on the Long Son Petrochemicals Complex at a ceremony on February 24 in the southern province of Ba Ria-Vung Tau.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
After the withdrawal of Vinachem, Qatar Petroleum International and now PetroVietnam, SCG is the sole investor of the project with a 100 percent equity stake. (Photo: hanoitimes.vn) 
