SCG Group (Thailand) has just announced its business results for the second quarter and the first six months of 2025. In Vietnam, SCG recorded sales revenue of VND 16.59 trillion (equivalent to USD 634 million) in the first six months of 2025, a decrease of 1% compared to the same period last year.

This shows that the group's business operations have remained relatively stable in a volatile market.

Notably, against the backdrop of falling crude oil prices improving operational efficiency, SCG plans to restart the Long Son Petrochemical Complex (LSP, formerly in Ba Ria - Vung Tau ) in Vietnam by the end of August 2025.

This plan demonstrates the group's proactive approach to sustaining long-term operations and ensuring readiness for market challenges.

Furthermore, the project to enhance the competitiveness of the complex through the application of ethane materials continues to be implemented on schedule and is expected to be completed in 2027. At the same time, the group continues to record significant progress in implementing its ESG 4 Plus strategy in Vietnam, particularly in the areas of innovation, community engagement, and leadership development.

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After months of suspended commercial operations, the Long Son petrochemical complex is expected to resume operations by the end of August 2025. Photo: LSP

Previously, the Long Son Petrochemical Project - the first integrated petrochemical complex in Vietnam - officially commenced commercial operation on September 30, 2024, achieving a production output of 74,000 tons of plastic pellets during the trial phase.

However, at the end of 2024, SCG announced that it had temporarily suspended commercial operations at the Long Son petrochemical complex to manage overall business costs and would restart operations when market conditions were more favorable.

The decision was made in response to a global petrochemical industry downturn characterized by oversupply and declining demand for petrochemical products. Additionally, the corporation was undertaking an investment project to improve production processes at LSP, aiming to enhance long-term competitiveness through increased operational flexibility.

At the time of deciding to temporarily suspend commercial operations, SCG stated that the petrochemical complex would receive a $700 million investment, primarily for the construction of ethane storage tanks and related infrastructure, expected to be completed by the end of 2027. Once officially operational, LSP would produce olefins and polyolefins to meet the growing demand of the consumer goods industry in Vietnam.

Why did the Thai giant temporarily halt operations of its $5.4 billion petrochemical complex in Vietnam? SCG's Long Son petrochemical complex in Vietnam has had to temporarily suspend commercial operations after only starting operations at the end of September 2024.

Source: https://vietnamnet.vn/to-hop-hoa-dau-5-4-ty-usd-o-viet-nam-sap-van-hanh-lai-sau-gan-1-nam-tam-dung-2430990.html