SCG Group (Thailand) has just announced its business results for the second quarter and the first 6 months of 2025. In Vietnam, SCG recorded sales revenue of VND 16.59 trillion (equivalent to USD 634 million) in the first 6 months of 2025, down 1% over the same period last year.

This shows that the group's business operations remain relatively stable in volatile market conditions.

Notably, in the context of falling crude oil prices helping improve operational efficiency, SCG plans to restart the Long Son Petrochemical Complex (LSP, former 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.

Along with that, the project to enhance the competitiveness of the complex through the application of ethane fuel continues to be implemented on schedule and is expected to be completed in 2027. At the same time, the group continues to record clear progress in implementing the ESG 4 Plus strategy in Vietnam, especially in the areas of innovation, community engagement and leadership development.

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After many months of suspending commercial operations, Long Son Petrochemical Complex is expected to resume operations at the end of August 2025. Photo: LSP

Previously, the Long Son Petrochemical Project - the first integrated petrochemical complex in Vietnam, officially went into commercial operation from September 30, 2024, achieving an output of 74,000 tons of plastic pellets in the testing phase.

However, at the end of 2024, SCG said the group had suspended commercial operations of the Long Son Petrochemical Complex to manage total business costs and would restart it when market conditions were more favorable.

The decision was made in response to the global petrochemical industry’s slowdown, with oversupply and declining demand for petrochemical products. In addition, the group implemented an investment project to improve production processes at LSP, aiming to enhance long-term competitiveness through increased operational flexibility.

At the time of the decision to suspend commercial operations, SCG said that this petrochemical complex would be invested with 700 million USD, mainly for the construction of ethane gas tanks and related infrastructure, expected to be completed by the end of 2027. When officially put into operation, LSP will produce olefins and polyolefins to meet the increasing demand of the consumer goods industry in Vietnam.

Why did the Thai giant temporarily suspend operations of the $5.4 billion petrochemical complex in Vietnam? SCG's Long Son petrochemical complex in Vietnam 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