Siam Cement, Thailand’s third- biggest company by market value, said the start up of a new US$1.2bn petrochemical plant will help it maintain profit growth this year.
“With the new cracker, we triple the size of high-margin petrochemical products,” Siam Cement President Kan Trakulhoon said in Bangkok. Petrochemicals produced at the plant, including ethylene and propylene, have “healthy profit margins,” he said, declining to elaborate.
Siam Cement has increased investments in petrochemical plants in Thailand and Vietnam to help counter a slowdown in domestic sales of cement, ceramic tiles and other building materials
However, the Thai company plans to expand abroad and build a new cement plant in Indonesia and acquire a cement maker in Vietnam, Siam Cement President Kan Trakulhoon said.