16 May 2014 11:19 [Source: ICIS news]
PATTAYA, Thailand (ICIS)--Siam Cement Group's (SCG) annual capital expenditure budget of Thai baht (Bt) 40bn-50bn ($1.2bn-1.5bn) through to 2018 will mostly go towards its new petrochemical project that will be built in Vietnam, the president of SCG Chemicals said on Friday.
"Most of the money will go to Long Son petrochemical [complex]," Cholanat Yanaranop told ICIS on the sidelines of the Asian Petrochemical Industry Conference (APIC) in Pattaya, Thailand.
The company has no immediate plans to make an acquisition, he said.
SCG Chemicals is a wholly owned subsidiary of Thailand's conglomerate SCG.
The company will likely look for acquisition targets outside of southeast Asia but it has no firm plans currently, he said.
"There is not much opportunity in ASEAN [Association of Southeast Asian Nations] after we acquired the shares in Chandra Asri ... it [acquisition] will likely be outside [of the region]," he said.
SCG had acquired a 30% stake in Indonesia's Chandra Asri in 2011.
APIC 2014 runs on 15-16 May.
($1 = Bt32.51)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections