Long Son Petrochemicals complex to begin trial run next month
The $5.4 billion Long Son Petrochemicals Complex is set to begin full trial run in November, towards commercial operation in January 2024, a Long Son Petrochemicals Co. (LSP) leader said Monday.
Kulachet Dharachandra, general director of Long Son Petrochemicals (LSP), said once operational, the facility in Ba Ria-Vung Tau province will churn out 1.4 million tons of polyethylene (PE) and polypropylene (PP) annually.
This would help the domestic plastics industry reduce the material import and become more competitive, he noted in a press meeting to announce the complex operation plan.
The complex will employ around 1,000 people and contribute around VND2.5 trillion ($102 million) annually to the state budget, he added.
It will also facilitate the petrochemical industry and related industries like automobiles, electronics and packaging.
Long Son Petrochemicals complex in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of Ba Ria-Vung Tau newspaper.
Long Son Petrochemicals has integrated modern technologies and digitalization to reduce negative impacts on the environment and surrounding communities by decreasing emissions, treating wastewater, and lowering unwanted smells, Dharachandra said.
Thailand's The Siam Cement Group (SCG) began construction of the complex in the fourth quarter of 2018. As a key project in Vietnam’s petrochemicals sector, the complex had been placed on a list of projects to be supervised by the Vietnamese government’s Council for State Inspection of Construction Works.
In November 2022, the project entered partial operations.
Vietnam has two operational oil refineries now - the Nghi Son Refinery and Petrochemical complex in Thanh Hoa province and the Binh Son Refining and Petrochemical complex in Quang Ngai province, both in the central region.
Nghi Son is a $9 billion refinery co-owned by state-run Petrovietnam, Kuwait Petroleum Europe B.V. (KPE), and Japan’s Mitsui Chemical and Idemitsu Kosan Co.
The other complex, better known as Dung Quat Refinery, is a Petrovietnam subsidiary that has received more than $3 billion in investments.
- Related News
- Read More
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7
Vietnam’s central bank sells $1.5 bln to stabilize currency: broker MBS
The State Bank of Vietnam (SBV) intervened in the foreign exchange market by selling approximately $1.5 billion via 180-day cancelable forward contracts from August 25-26, in an effort to ease pressure on the Vietnamese dong, according to a recent report by MB Securities (MBS).
Banking - Mon, September 15, 2025 | 8:04 am GMT+7
Hanoi aims to break ground on $11.4 bln Red River Boulevard & Landscape project by Jan 2026
A consortium of “tunnel king” Deo Ca Group and real estate developer Van Phu Invest has been assigned by the Hanoi People’s Committe to prepare an investment proposal for the VND300 trillion ($11.37 billion) Red River Boulevard & Landscape project.
Real Estate - Mon, September 15, 2025 | 7:55 am GMT+7
