Qatar Petroleum's exit sets back Vietnam petrochem complex JV
Long Son complex expected to see at least 12 months' delay in investment decision as JV seeks new partner
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Singapore
VIETNAM's integrated Long Son petrochemical complex is expected to face at least 12 months' delay in progressing towards a final investment decision (FID), with the imminent exit of project partner Qatar Petroleum to set back the financing for the over US$4 billion development.
The Business Times reported the Long Son petrochem complex was due for an FID in early 2016. This is likely to drag to late 2016, one source in Vietnam said, following Qatar Petroleum's expressed intent to forsake its 25 per cent stake in the project joint venture (JV) led by a unit of Thailand's Siam Cement Group (SCG).
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