Thailand SCG earns $1.45 bln in Vietnam in 2024, up 11%
Thailand’s Siam Cement Group (SCG) recorded sales of THB49,514 million ($1.45 billion) in Vietnam in 2024, up 11.1% year-on-year, the industrial giant said in its 2024 performance review.
Per global scale, SCG earned a sales revenue of THB511,172 million (nearly $14.97 billion) in 2024, up 2%.
Thailand was its biggest source, accounting for 54% of the total, followed by the ASEAN (not including Thailand) with 27%, and other overseas markets with 19%.
Long Son Petrochemicals (LSP) complex in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of LSP.
Excluding Thailand as its domestic market, Vietnam was SCG’s biggest market in the ASEAN, followed by Indonesia and Cambodia.
SCG Chemicals (SCGC), an arm of SCG, reported that the output of its Long Son Petrochemicals (LSP) complex in Vietnam reached 336,000 tons of polypropylene (PP) and polyethylene (PE) in 2024. The figure accounted for 18% of SCGC’s total output of 1.87 million tons of PP and PE last year.
SCGC started land preparation for the Long Son Petrochemicals complex in Vietnam’s southern province of Ba Ria-Vung Tau in 2018, started up all utilities in 2022, and conducted a full complex test run in December 2023.
LSP began its commercial operation (COD) on September 30, with an initial production output of 74,000 tons during the trial phase. At full capacity, the complex’s annual output will include 1.4 million tons of polyethylene and polypropylene.
In November 2024, SCG said it would invest an extra $700 million in the $5.2 billion LSP to diversify its production. In January 2025, SCG said SCGC signed a 15-year ethane supply and delivery contracts to provide feedstock for its LSP complex.
In addition to petrochemicals, SCG also has other businesses in Vietnam, including cement (SCG Cement and Green Solutions), and building materials and wood pellet (SCG Smart Living).
- Related News
- Read More
Hoa Phat Agriculture valued at over $450 mln ahead of IPO, ranking 2nd in Vietnam's livestock industry
Hoa Phat Agriculture Development JSC (HPA) has been valued at more than $450 million based on its newly announced IPO price, making it the second-largest company in Vietnam’s livestock industry after Masan MeatLife.
Companies - Fri, November 21, 2025 | 11:26 am GMT+7
Vietnam leads ASEAN in consumer optimism: UOB
Vietnam continues to lead the region in consumer optimism, driven by positive economic outlook and confidence in personal finances, according to the sixth edition of the ASEAN Consumer Sentiment Study (ACSS). UOB analysts offer an insight into their findings.
Economy - Fri, November 21, 2025 | 9:01 am GMT+7
MBBank partners with Visa, Kotra to launch new MB Visa Hi BIZ corporate card
MBBank (MB) on Wednesday launched a new version of its MB Visa Hi BIZ corporate card, offering enhanced spending management tools and cross-border payment capabilities through partnerships with Visa and South Korea’s trade promotion agency Kotra.
Banking - Thu, November 20, 2025 | 9:38 pm GMT+7
Germany looks to Vietnam's largest tungsten mine for critical mineral supply diversification
Germany is turning its attention to Vietnam’s Nui Phao mine, one of the world’s largest tungsten deposits outside China, as part of efforts to diversify supplies of strategic minerals.
Industries - Thu, November 20, 2025 | 5:27 pm GMT+7
Vietnam's tech firms should pursue end-to-end product strategy, avoid ‘halfway’ innovation: minister
Vietnamese technology firm ought to pursue a product-driven strategy and sustain long-term global ambitions, said Minister of Science and Technology Nguyen Manh Hung.
Economy - Thu, November 20, 2025 | 5:23 pm GMT+7
Vietnam’s gaming market needs more than just a 'pho restaurant'
To keep up with the booming gaming industry, Vietnamese developers must innovate by embracing stronger technology adoption while still forging a unique identity, and sometimes, that unique identity could simply be represented by a humble bowl of pho (noodle soup).
Economy - Thu, November 20, 2025 | 4:14 pm GMT+7
F88 named among Best Managed Companies 2025 by Deloitte
Vietnam’s consumer finance major F88 has been recognized by Deloitte as one of the “Vietnam Best Managed Companies 2025”, meeting international governance standards.
Companies - Thu, November 20, 2025 | 2:47 pm GMT+7
PTC1 unit assesses information security at 220kV northern Vietnam substations
The Northeast Power Transmission Team 3, a unit of Power Transmission Company No.1 (PTC1), coordinated with Cyberspace Operations Command (Command 86) to conduct an information security (IS) assessment at the 220kV Lang Son and Bac Quang substations from November 10-14.
Companies - Thu, November 20, 2025 | 1:12 pm GMT+7
Vietnam’s largest listed firm to double charter capital
Vingroup, the biggest company by market capitalization on Vietnam's bourses, said it will double its charter capital to more than VND77 trillion ($2.92 billion) after issuing nearly 3.9 billion bonus shares to existing shareholders at a 1:1 ratio.
Companies - Thu, November 20, 2025 | 11:50 am GMT+7
Consortium plans $12.8 bln boulevard-landscape project in Hanoi
A consortium including Vietnam’s transport infrastructure giant Deo Ca Group has proposed developing the VND338 trillion ($12.81 billion) Red River boulevard and landscape, which could become Hanoi’s largest-ever infrastructure project.
Infrastructure - Thu, November 20, 2025 | 8:58 am GMT+7
Viettel, UAE-based EDGE partner on defense, dual-use technologies
Military-run Viettel, Vietnam’s largest telecommunications and technology group, has signed an MoU with EDGE, one of the world’s leading advanced technology and defence companies, in a move that underscores the country’s ambition to expand high-tech manufacturing.
Companies - Thu, November 20, 2025 | 8:53 am GMT+7
Maersk eyes building major container ports in Vietnam
A.P.Moller - Maersk (Maersk) is exploring investment opportunities to develop large, modern and low-carbon container ports in Vietnam.
Infrastructure - Wed, November 19, 2025 | 4:36 pm GMT+7
Taiwan semiconductor giant Panjit acquires 95% of Japan-based Torex’s Vietnam arm
Panjit International Inc, a Taiwan-listed semiconductor major, has approved the acquisition of a 95% stake in Torex Vietnam Semiconductor, a subsidiary of Japan-based Torex.
Companies - Wed, November 19, 2025 | 3:59 pm GMT+7
Vietnam PM urges Kuwait Petroleum to expand Nghi Son refinery, build bonded fuel storage facility
Prime Minister Pham Minh Chinh on Tuesday called on Kuwait Petroleum Corporation (KPC) to expand the Nghi Son oil refinery and build a bonded fuel storage facility in Vietnam.
Industries - Wed, November 19, 2025 | 3:18 pm GMT+7
Southern Vietnam port establishes strategic partnership with Japan’s Port of Kobe
Long An International Port in Vietnam’s southern province of Tay Ninh and Japan’s Port of Kobe on Monday signed an MoU establishing a strategic port partnership which is expected to boost trade flows, cut logistics costs, and deliver greater benefits to businesses across the region.
Companies - Wed, November 19, 2025 | 10:14 am GMT+7
Thaco's agri arm seeks to expand $44 mln cattle project in central Vietnam
Truong Hai Agriculture JSC (Thaco Agri), the agriculture arm of conglomerate Thaco, looks to aggressively expand its flagship cattle farming project in the central Vietnam province of Gia Lai.
Industries - Wed, November 19, 2025 | 9:56 am GMT+7
