$5.1 billion Long Son Petrochemicals Complex ready to roll
$5.1 billion Long Son Petrochemicals Complex ready to roll
Long Son Petrochemicals (LSP) is completing the final procedures to operate the $5.1-billion Long Son Petrochemicals Complex in Ba Ria-Vung Tau province.
According to VIR’s source, by the end of July, the construction work of Long Son Petrochemicals has been nearly completed, despite a small delay according to the schedule.
As of June 2018, the complex became a fully invested company of SCG Group from Thailand, which completed the purchase of a 29 per cent stake from PetroVietnam to increase its holding in the complex from 71 per cent.
The petrochemical complex is located in Long Son commune of the southern province, 100km from Ho Chi Minh City.
This integrated petrochemical complex will have a total olefin production capacity of 1.6 million tonnes per year.
The project, which was previously known as Southern Petrochemical Complex, was changed by investors numerous times, going from PetroVietnam to Vinachem, Vina SCG Chemicals Co., Ltd., and then to Thai Plastic and Chemicals Pcl.
As of June 2018, the complex became a fully invested company of SCG Group from Thailand, which completed the purchase of a 29 per cent stake from PetroVietnam to increase its holding in the complex from 71 per cent.
The construction of the complex started in early 2018; however, the construction was behind the initial schedule in the first quarter of this year.
The complex is designed to produce various petrochemical products, including essential plastic materials such as polyethene, polypropylene, and other products in excess of two million tonnes per year, enabling it to substitute imported polyolefin products. Non-petrochemical supporting infrastructure, such as a deep sea port and other facilities, are also included.
