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News Siam Cement Group reviewing investment plans in light of Ukraine crisis

Siam Cement Group reviewing investment plans in light of Ukraine crisis

Written by Global Cement staff 11 March 2022
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Thailand: Siam Cement Group (SCG) says that it is reviewing its planned US$2.4bn investment programme for 2022 due to the changing conditions it faces following the Russian invasion of Ukraine and ensuing cost rises. The Bangkok Post newspaper has reported that the company has recorded a rise in raw materials and energy costs across its businesses.

President and chief executive officer Roongrote Rangsiyopash said "We will delay some new investment projects, especially greenfield investments, and consider increasing more investments under merger and acquisition plans to avoid possible impact on our long-term financial management." Rangsiyopash added "Prices of cement and building materials will also gradually increase."

Last modified on 16 March 2022
Published in Global Cement News
Tagged under
  • Siam Cement
  • SCG Cement
  • costs
  • Raw Materials
  • Electricity
  • Price
  • Russia
  • Ukraine
  • Investment
  • Strategy
  • Fuel
  • GCW548

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