$5bn petrochemical complex gears up for Q3 launch in southern Vietnam
Wednesday, April 10, 2024, 11:02 GMT+7
The Long Son Petrochemicals Co. Ltd. (LSP) recently confirmed to Tuoi Tre (Youth) newspaper that its Long Son petrochemical complex, located in Ba Ria-Vung Tau Province, southern Vietnam, was rescheduled to commence commercial operations in the third quarter of 2024.
LSP, a Thai firm, was initially set to operate the petrochemical complex in March this year, but the plan was pushed back due to technical issues that arose when the complex underwent trial operations at full capacity.
Another trial run is scheduled to take place in mid-2024, the company said.
Once it is put into service, the complex will churn out 1.35 million metric tons of olefins per year, according to Kulachet Dharachandra, general director of LSP.
Polyolefin resin plants will use olefins as raw materials to produce polyolefin resins, with an annual output of 1.4 million metric tons.
LSP is expected to earn US$1.5 billion in revenue and make tax payments of over $150 million after the complex starts commercial operations, the LSP leader said.
With a total investment of more than $5 billion, the 464-ha Long Son petrochemical complex is a national flagship project developed by LSP, a subsidiary of Siam Cement Group (SCG) from Thailand.
The complex has a quality workforce of around 1,000 employees, with 80 percent being Vietnamese.
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