Part of the Long Son petrochemical complex (Photo: VNA) Hanoi (VNA) – The Long Son Petrochemicals Co. Ltd. (LSP) has announced thatits Long Son petrochemical complex in the southern province of Ba Ria - VungTau is on track to begin commercial operation in the third quarter of 2024.
Since November 2023, LSP has been conductingcomprehensive trial runs across the entire complex, encompassing both theupstream Olefins plant and the three downstream Polyolefin plants.
It is the first fully integrated petrochemicalcomplex in Vietnam, which has been built in Long Son commune of Vung Tau city since February 28, 2018. With a total investment of about 5.4 billion USD, it has adesigned capacity of 1.4 million tonnes of olefin resin per year, aimed atproducing a variety of petroleum products, including essential raw materialsfor the plastics industry such as polyethylene, polypropylene and other relatedproducts. This initiative is intended to reduce reliance on imported polyolefinproducts and improve the competitiveness of downstream manufacturers in thedomestic market.
The complex boasts a quality workforce ofaround 1,000 employees, with 80% being Vietnamese. Once put intocommercial operation, it will generate stable jobs for 10,000 workers andcontribute an estimated 2.5 trillion VND (104.1 million USD) to the Statebudget annually.
In 2018, Thailand’s Siam Cement Group acquired a 29% stake inthe project from the Vietnam Oil and Gas Group (Petrovietnam), ultimatelysecuring full ownership with a 100% stake./.
