About to 'revive' $5.4 billion petrochemical complex in Ho Chi Minh City

On July 18, Mr. Vo Van Minh - Deputy Secretary of the City Party Committee, Chairman of the Ho Chi Minh City People's Council - had a working session with leaders of SCG Group (Thailand) and Long Son Petrochemical Company Limited (LSP) - investor of the Long Son Petrochemical Complex project in Long Son commune.

Long Son Petrochemical Complex in Long Son Commune is expected to operate in August.

At the meeting, Mr. Kulachet Dharachandra - Country Director of SCG Group in Vietnam and General Director of LSP - said that Long Son Petrochemical Complex is the first integrated petrochemical complex in Vietnam, with a total investment of about 5.4 billion USD. The complex includes an olefins plant with a capacity of 1.35 million tons/year, three polyolefin plants: HDPE, LLDPE, PP with a capacity of 1.4 million tons/year, a specialized seaport system, tanks and modern industrial facilities.

Although completed by the end of 2024, the complex is currently suspended due to market fluctuations. However, the company still maintains high-standard facilities and focuses on training human resources.

According to Mr. Kulachet Dharachandra, LSP is currently completing procedures to invest an additional 500 million USD to upgrade the complex, add the ability to use ethane fuel, and increase long-term competitiveness. Long Son Petrochemical Company Limited plans to restart the entire complex next August.

Speaking at the meeting, Mr. Vo Van Minh acknowledged the company's efforts in overcoming difficulties and maintaining its staff, and congratulated the complex on preparing to resume operations in August, after a long interruption.

Mr. Vo Van Minh, Deputy Secretary of the City Party Committee, Chairman of the People's Council of Ho Chi Minh City spoke at the meeting.

The Chairman of the Ho Chi Minh City People's Council also emphasized that Ho Chi Minh City is very interested in large, strategic projects such as the Long Son Petrochemical Complex, not only because of the investment scale but also because of the significance of technology, employment and spillover effects to many other industries. Ho Chi Minh City is ready to accompany and support in removing difficulties and obstacles for businesses to develop stably and sustainably.

Mr. Minh requested relevant departments, agencies and localities to continue to facilitate and support LSP to speed up administrative procedures and remove obstacles. Ho Chi Minh City is committed to always accompanying businesses, creating a transparent and favorable investment environment, contributing to promoting sustainable economic development in the coming period.