On September 30, Long Son Petrochemical Company Limited (LSP - a member company of SCG Chemicals, part of SCG Group) announced that the first integrated petrochemical complex in Vietnam has officially started commercial operation.
The Southern Petrochemical Complex (also known as Long Son Petrochemical Complex) is one of the national key projects with a total investment of more than 5 billion USD, including a mixed pyrolysis plant (olefins plant), world-leading polyolefin plants, a specialized port and tank cluster, a central utility plant, and other related facilities.
The complex is designed to produce a wide range of petrochemical products including essential plastic raw materials such as polyethylene (PE) and polypropylene (PP), serving both domestic and international customers. Therefore, the complex is expected to play an important role in the development of the petrochemical and plastics industries in Vietnam, providing high-quality products and focusing on sustainable development.
LSP’s resin products will help reduce polyolefin imports and enhance the competitiveness of downstream businesses in the supply chain. In addition, they are also basic raw materials for many different industries, such as packaging, agricultural production, electrical equipment, auto parts and many other fields.
Mr. Kulachet Dharachandra - General Director of Long Son Petrochemical Company Limited, shared: “We believe that the operation of LSP will bring long-term economic growth and enhance the competitive advantage for the petrochemical and plastics industries in Vietnam. Currently, while the world petrochemical industry is declining, fluctuating crude oil prices cause input material costs to increase, but LSP will focus on optimizing the operating model and improving operational efficiency to adapt to the global competitive environment”.
LSP is also committed to operating its business in a sustainable manner, focusing on ESG (environmental, social and transparent governance) principles. The company plans to hold a project inauguration ceremony in November 2024.
