According to the company’s website, Long Son Petrochemicals Company Limited (LSP), a company incorporated in the Socialist Republic of Vietnam, has been established to develop, construct and operate Vietnam’s first integrated petrochemicals complex located in Ba Ria-Vung Tau province. The project will comprise a world-scale grassroots mixed-feed cracker, downstream polyolefins plants (HDPE, PP and LLDPE), central utilities unit, port, jetty and storage facilities and other associated facilities.
As the first integrated petrochemicals project in Vietnam, the strategic importance of LSP lies in its import substitution nature to meet Vietnam’s sustained and fast growing domestic demand for polymer resins and to enhance the competitiveness of its plastic industry, an important export earner for Vietnam.
The project enjoys a favourable location in the South of Vietnam, in close proximity to the end-user market in Vietnam as well as the export markets of Asia Pacific. The project will be located on Long Son Island, next to the Long Son Industrial Zone (Long Son IZ) in the northwest of Vung Tau city, Ba Ria-Vung Tau province, South Vietnam.
The site location of the project is approximately 90km from Ho Chi Minh City and 25km from Vung Tau city, in a region where approximately 80% of Vietnam’s plastics industry is located. Land area of the project is approximately 464 hectares, including area for future expansion, and is close to National Road No.51, connecting Ho Chi Minh City, providing convenient access and facilitating efficient product transportation.
The proposed location and ground conditions are suitable for setting up of a petrochemicals complex, including adequate access to sea shore and international shipping routes for exports and imports of goods and end-user markets.
According to SCG-Investor Relations quarterly results presentation on July 27, 2022 and in a recent roadshows presentation made by the company on September 8-9, 2022, the start-up of LSP1 represents an increase in SCGC's nameplate capacity by 42% and LSP captures tremendous Vietnam growth.
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Published on September 14, 2022 2:45 PM (GMT+8)Last Updated on September 14, 2022 3:14 PM (GMT+8)
