The Hanoitimes – The construction of the Long Son Petrochemicals (LSP) complex has been started on February 24 and the complex is scheduled to start commercial operation in the first half of 2022. The LSP complex is invested by a joint venture between Thailand’s Siam Cement Group (SCG) and PetroVietnam (PVN) with the total capital of US$5.4 billion on an area of 464 hectares. Illustration photo. Located in southern Ba Ria-Vung Tau province in Vietnam and being the first of its kind in Vietnam, the complex targets to develop a 1-million-ton ethylene cracker with a flexible gas and naphtha feed, creating an olefin capacity of 1.6 million tons per year. At present, Dung Quat Refinery, the first-ever oil refinery in Vietnam, processes about 6.5 million tons of crude oil per year, meeting only 30% of the domestic demand for petroleum products, according to the Ministry of Industry and Trade. The project’s construction, therefore, is in line with the Politburo’s development strategy of the Vietnamese petroleum sector by 2025, with vision to 2035, stressed Prime Minister Nguyen Xuan Phuc at the ground-breaking ceremony. As such, the project will play an important role in facilitating the Vietnamese refinery and petrochemical industry, with… Read full this story
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