$5.4 billion petrochemicals complex to begin commercial operations in March

The $5.4 billion Long Son Petrochemicals Complex, invested by Thailand’s SCG Chemicals, began a full trial run last month towards commercial operations in March 2024.

National Assembly Chairman Vuong Dinh Hue lauded the investor for efficient project execution during a Tuesday working visit to the complex as part of his visit to the southern province of Ba Ria-Vung Tau.

The project is among the biggest Thai investments in Vietnam, accounting for one-third of the kingdom’s total foreign direct investment (FDI) in the country of over $14 billion, Hue noted.

Relevant central and local authorities should aid the project in receiving its remaining licenses, Hue directed. The rapid progress that the project has made in just five years is a major success, the top legislator said.

Thammasak Sethaudom, director and executive vice president of Thailand’s SCG, the parent firm of SCG Chemicals, thanked Vietnamese authorities for facilitating the project. The project will play a key role in revolutionizing Vietnam petrochemicals and plastics sectors, he said.

Provincial authorities informed Hue of economic achievements in 2023, including gross regional domestic product (GRDP) growth of 5.94% and GRDP per capita of $8,078. The province has taken initial steps to developing its petrochemical industry and the manufacturing of wind power equipment, they said.