Thailand’s SCG signs $3.2b loans to fund project in Vietnam
SCG has signed loan agreements to finance development of its Long Sơn Petrochemicals Company Limited in Bà Rịa – Vũng Tàu in Vietnam
SCG has signed loan agreements worth over US$3.2 billion with six banks in its home country, Thailand, to fund construction of Việt Nam’s first fully integrated petrochemical complex, Long Sơn Petrochemicals Company Limited (LSP).
Construction will begin in the third quarter of this year and the complex’s commercial operations are expected to start in the first half of 2023 to meet Việt Nam’s soaring demand, now at 2.3 million tonnes a year and projected to expand consistently thanks to the country’s strong economic growth.
Roongrote Rangsiyopash, president and CEO of SCG, said: “Long Sơn Petrochemicals is a world-scale petrochemical complex with an investment of $5.4 billion. It is SCG’s flagship investment.