VOV.VN - Long Son Petrochemical Complex Project, which has received US$5.1 billion in investment, is taking shape in Ba Ria – Vung Tau, with 96.2% of the workload completed, according to Dau Tu (Investment) Newspaper.
Workers are now putting the finishing touches to a number of sub-components of the project which is scheduled to be partially put into operation by the end of this year.
The Ministry of Industry and Trade reports that the overall quality of the construction works fully meets the requirements through a number of appraisals and inspections conducted by various relevant agencies since 2019.
Featuring initial investment capital of US$3.7 billion, Long Son Petrochemical Complex was first launched in 2008 with the involvement of numerous local businesses, including the Vietnam Oil and Gas Group (PetroVietnam) and the Vietnam Chemical Group, both of which account for 29% of charter capital.
Notable foreign partners include Siam Cement Group (SCG), Qatar Petroleum Company, Vina SCG Chemicals Company Limited (VSCG), and Thai Plastic and Chemicals Public Company Limited (TPC).
By June 2018, the Southern Petrochemical Complex became an entirely Thai invested project with an investment capital scale of roughly US$5.1 billion. The project has an annual capacity of 1.35 million tonnes of olefins and 1.4 million tonnes of polyolefins.
In a recent meeting with Vietnamese Government leaders, Roongrote Rangsiyopash, chairman and CEO of Thailand’s SCG Group, said SCG plans to develop two new projects, including upgrading of capacity for the current project and the expansion of the second phase of the project (LSP2), which will employ advanced technologies towards a green and circular direction.