April 09, 2024 [Hydrocarbon Processing]- The Long Son Petrochemicals Co. Ltd. has confirmed that its Long Son petrochemical complex in Ba Ria – Vung Tau province is set to start commercial operations in the third quarter of 2024.
Having undergone extensive trial runs since November 2023, the complex, comprising an upstream Olefins plant and three downstream Polyolefin plants, marks Vietnam’s first fully integrated petrochemical facility. With an investment totaling approximately $5.4 billion, the complex aims to produce 1.4 million tons of olefin resin annually, including key materials for the plastics industry like polyethylene and polypropylene, reducing the country’s reliance on imported products and enhancing domestic market competitiveness.
Employing a workforce of around 1,000, 80% of whom are Vietnamese, the complex is expected to create stable employment opportunities for 10,000 workers upon commencement, contributing an estimated 2.5 trillion VND ($104.1 million USD) annually to the State budget. Thailand’s Siam Cement Group acquired a 29% stake in the project in 2018 from Vietnam Oil and Gas Group (Petrovietnam), securing full ownership thereafter.
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