16 May 2014 11:13 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand's Siam Cement Group (SCG) is on track to start up its joint venture petrochemical complex at Long Son Island in Vietnam by late 2018, a company executive said on Friday.
"We are currently at the bidding stage and we have sent out invitations for contractors to submit their proposals. We are now evaluating their proposals," SCG Chemicals president Cholanat Yanaranop told ICIS on the sidelines of the Asian Petrochemical Industry Conference (APIC) in Pattaya.
SCG Chemicals is a wholly owned subsidiary of SCG.
Supporting infrastructure, such as storage facilities, port, jetty, power plant and other utilities, will also be constructed at the project site.
The cracker will be fully integrated with a wide range of downstream units, including a 450,000 tonne/year high density polyethylene (HDPE) plant; a 450,000 tonne/year linear low density polyethylene (LLDPE) unit; and a 500,000 tonne/year polypropylene (PP) facility, Yanaranop said.
Global demand for polymers is expected to grow at 3-4% this year, supported by strong consumption growth in key markets in southeast Asia such as Indonesia, Thailand and increasingly, the Philippines, he said.
The bulk of the SCG Chemicals’ export volumes currently heads to southeast Asia, with 15-20% flowing to China.
APIC 2014 runs from 15-16 May.
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