By VU TRONG KHANH
HANOI -- Vietnam National Chemical Group, or Vinachem, will
likely sell its stake of over 11% in the $4.5 billion Long Son
petrochemical plant in southern
Vietnam to Thai partners in the project, a company official said
"We want to focus on our core business of producing non-oil
chemicals and fertilizers," the official, who didn't wish to be
"It is now at the auditing and evaluating process and I
think the sale will likely be completed within this year," the
official said, but didn't mention the value of the sale.
Siam Cement PCL, Thai Plastic and Chemicals PCL, Qatar
International Petroleum Marketing Co., or Tasweeq, and
state-run Vietnam Oil and Gas Group, or PetroVietnam, own
stakes in the project.
The non-Thai partners in the project are also interested in
buying the stake, the official added, but didn't elaborate.
Vietnamese state media said earlier that the plant in Ba Ria
Vung Tau province is scheduled to start commercial production
It will produce 1.4 million tpy of products, most of which
will be sold in Vietnam.
Dow Jones Newswires