Vietnam’s first integrated petrochemical complex comes into operation
Long Son Petrochemicals has announced the start of commercial operations at Vietnam’s first integrated petrochemical complex in the southern province of Ba Ria-Vung Tau.
The Long Sơn Petrochemical (LSP) complex will produce various petrochemical products, including essential plastic resins such as polyethylene (PE) and polypropylene (PP), to serve customers both domestically and internationally.
Plastic resins from the complex will help lessen imported polyolefin products and enhance competitiveness for downstream businesses along the value chain. Also, they are building blocks for various industries including packaging, agriculture, electrical appliances and automotive.
Kulachet Dharachandra, general director of LSP, said, “We believe that the commencement of LSP will bring growth to long-term economic and enhance competitive advantages to the petrochemical and plastic industry in Vietnam."
"However, in response to the continued global petrochemical industry downturn and volatile crude oil prices that contributing to high raw material costs, LSP will optimise its operation mode, and accelerating operational excellence.”
LSP is a subsidiary of SCG Chemicals (SCGC) and a member of Thai SCG Group. It has a total investment capital of more than US$5 billion.
To enhance competitiveness, LSP plans to increase operational flexibility by expanding the range of raw materials used in production. This strategy will allow for better cost management in line with market conditions and help mitigate the impact of raw material price fluctuations.
