LSP starts Specialized Tank Terminal and Central Utilities Plant, the first key plants of LSP complex

Ba Ria – Vung Tau, 26 November 2022 – Long Son Petrochemicals Co., Ltd. (LSP) starts and operates the first key plants of the Long Son Petrochemicals Complex; Specialized Tank Terminal and Central Utilities Plant. The opening ceremony was attended by Vietnam Prime Minister HE Pham Minh Chinh, the government delegates and SCG executives, marking an important milestone of the project to create a springboard for the petrochemical industry in Vietnam.

Speaking at the ceremony, Mr. Roongrote Rangsiyopash – President and CEO of SCG – the holding company of LSP said: “SCG expresses gratitude to all related parties who have been supporting this project until today, especially the Prime Minister Pham Minh Chinh. LSP is the flagship project of SCG and SCG Chemicals (SCGC) in Vietnam which shows our long-term commitment to the country’s sustainable development. The project is built with cutting-edge technologies which are amongst the regional best practices. This ensures compliance and shows our strong commitment to safety and environmental protection. With this petrochemical complex, we hope to create a springboard for the petrochemical industry in Vietnam by lessening the need of importing and increasing the product competitiveness. On the other hand, the project will encourage long-term investment in related industries throughout the value chain. SCG and SCGC believe that this project will support the growth of downstream businesses in Vietnam and play a vital role to support long term economic growth as well as improving quality of life for people in Vietnam and across the region”.

The opening ceremony also had the participation of Vietnam Prime Minister Pham Minh Chinh. “Since the ground breaking of the project, over the past 3 years with the happening of the pandemic, the investor together with the government of Ba Ria – Vung Tau province and related parties have made efforts to overcome many difficulties; and today we are here to celebrate the opening of the Specialized Tank Terminal and Central Utilities Plant. This is a great effort, and I highly appreciate the cooperation of all parties to get the achievement as today. This result has also come from the harmonious relationship between Vietnam and Thailand, between the investor and the local authorities, and the support of the central government. I wish the project success and timeline completion with quality standards.”

For the first key plants, LSP starts and operates 3 important units of Specialized Tank Terminal and Central Utilities Plant including the Hydrocarbon Jetties, Tank Farm, and Central Utilities (CTU) in order to supply raw materials and utilities for olefins and polyolefin plants for the production of petrochemical products.

LSP is a subsidiary of SCGC, and operates the Long Son Petrochemical Complex – the first integrated petrochemical complex in Vietnam. The project investment is more than 5 billion USD that will produce total olefins capacity up to 1.35 million tons per year and designed to produce various petrochemical products including essential plastic materials such as polyethylene and polypropylene of 1.4 million tons per year to substitute current import of polyolefin products.