MOSCOW (MRC) -- The Srithai Superware Group is in talks to acquire major shares in two plastic-product factories in Vietnam. The company's chairman Sanan Angubolkul did not say when the deals might be wrapped up, reported GV.
Srithai already has a plastic-products factory and a melamine-ware factory in Ho Chi Minh City. A new plastic-products plant in Ho Chi Minh City will be built soon. The company has leased land for its construction. It also has a plant in Hanoi.
Sanan said the company's sales in Vietnam were expected to grow by 18 per cent this year. The Srithai group expects total sales growth of 8 per cent. It set aside an investment budget of Bt900 million this year, of which Bt350 million will be spent on the expansion of the production capacities of plants overseas, and the rest will be spent on product-promotion activities.
We remind that, as MRC informed previously, Siam Cement Group (SCG) says its planned petrochemical complex in Vietnam would be further postponed by six months, pending the conclusion of an agreement with a new joint-venture partner following the exit of Qatar Petroleum International (QPI). The USD4.5-billion fully integrated complex is to be the first of its kind in Vietnam and a key regional flagship for the Thai conglomerate.
To be developed on Long Son Island in southern Ba Ria Vung Tau province, the complex will consist of a factory capable of turning out 1.65 million tons of olefins, 1.45 million tons of polyolefins, 280,000 tons of chlor-alkali, and other materials each year. The site will also include support facilities, including a port, warehouses and a power plant.
SCG holds 46 % in the Long Son Petrochemicals Project, in which QPI previously had a 25% stake. The remaining 29% belongs to two Vietnamese partners - PetroVietnam and Vinachem.
MRC