$5B Long Son petrochemical complex to restart in late August
Long Son complex features advanced olefin and polyolefin plants, supplying essential materials for packaging, agriculture, electronics, and automotive industries.
THE HANOI TIMES — The Long Son Petrochemical Complex (LSP) is scheduled to restart operations in late August after suspending operations in October 2024 to control costs.
Tank farm area of the Long Son Petrochemical Complex. Photo: LSP
The Thai Siam Cement Group Co., Ltd. (SCG) made such a decision at a time when Brent crude prices had fallen to around $63 per barrel, 21% lower than the same period last year.
LSP, the largest FDI project in Ba Ria-Vung Tau, was licensed in 2008 and has been solely owned by SCG since 2018, with total investment now exceeding $5 billion.
The complex comprises an upstream olefin plant, three downstream polyolefin plants, including high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), polypropylene (PP), and a dedicated port, with a designed capacity of 1.4 million tons of olefin resins per year.
Its products supply key industries including packaging, agriculture, electronics, and automotive manufacturing.
SCG is also investing an additional $700 million to build an ethane receiving terminal and related infrastructure, expected to be completed by 2027.
This will expand feedstock sources from naphtha and propane to include ethane, reducing both costs and CO₂ emissions. In H1 of 2025, SCG’s revenue in Vietnam reached $634 million, down 1% year-on-year.
