Long Sơn petrochemical complex to begin commercial operation in Q3

April 08, 2024 - 14:34

With a total investment of about US$5.4 billion, the complex has a designed capacity of 1.4 million tonnes of olefin resin per year, aimed at producing a variety of petroleum products.

Part of the Long Sơn petrochemical complex. —VNA/VNS Photo

HÀ NỘI — The Long Sơn Petrochemicals Co. Ltd. (LSP) has announced that its Long Sơn petrochemical complex in the southern province of Bà Rịa-Vũng Tàu is on track to begin commercial operation in the third quarter of 2024.

Since November 2023, LSP has been conducting comprehensive trial runs across the entire complex, encompassing both the upstream Olefins plant and the three downstream Polyolefin plants.

It is the first fully integrated petrochemical complex in Việt Nam, which has been built in Long Sơn Commune of Vũng Tàu City since February 28, 2018. With a total investment of about US$5.4 billion, it has a designed capacity of 1.4 million tonnes of olefin resin per year, aimed at producing a variety of petroleum products, including essential raw materials for the plastics industry such as polyethylene, polypropylene and related products. This initiative is intended to reduce reliance on imported polyolefin products and improve the competitiveness of downstream manufacturers in the domestic market.

The complex boasts a quality workforce of around 1,000 employees, with 80 per cent being Vietnamese. Once put into commercial operation, it will generate stable jobs for 10,000 workers and contribute an estimated VNĐ2.5 trillion ($104.1 million) to the State budget annually.

In 2018, Thailand’s Siam Cement Group acquired a 29 per cent stake in the project from the Vietnam Oil and Gas Group (Petrovietnam), ultimately securing full ownership with a 100 per cent stake. — VNS

Work starts on $84.5-million glove manufacturing project in Nam Định

bizhub

Mega trading project starts construction in Đà Nẵng

bizhub

Samsung holds second corporate social responsibility day

bizhub

Growing wine market to be worth US$382 million

bizhub

Taiwan and Việt Nam collaboration in the water treatment sector is promising prosperity

bizhub

Maersk opens its first bonded warehouse in Việt Nam

More on this story

bizhub

Sacombank rejects rumour chairman banned from leaving the country

Sacombank urged investors, shareholders and customers to be cautious of baseless rumours and to rely on information from credible media channels and news sources.

bizhub

Vingroup announces additional capital injection into GSM

The Board of Directors of Vingroup issued a resolution approving the plan to inject more capital into GSM during 2024.

bizhub

Locally made equipment exported to US market

Doosan Vina said nine steel structure modules weighing 1,900 tonnes are a part of the Golden Triangle Polymers project (GTPP) that was signed between Doosan Vina and the joint venture ZDJV and investor CP Chem in 2023, including 18 modules with a total weight of 4,589 tonnes.

bizhub

Salon Deluxe Vietnam 2024 exhibition opens in HCM City

The Salon Deluxe Vietnam 2024 exhibition has officially commenced at the Park Hyatt Saigon Hotel in HCM City on Friday, gathering numerous luxury watch, jewelry, and lifestyle brands and distributors from around the world.

bizhub

US chip giant Synopsys to help VNU-HCM provide in-depth training in IC design

The two sides will collaborate to establish VNUHCM Semiconductor Research Institute (VSRI), which will become a place providing equipment for training and research for universities and startups, and a centre for connecting and developing cooperation in the field of semiconductors between VNU-HCM and businesses, institutes and universities at home and abroad.