Vietnam's First Integrated Petrochemical Complex Officially Operated: Promoting a New Chapter in the Development of Petrochemical Industry

1. But petrochemical complex officially put into commercial operationon September 30, 2024, Longshan Petrochemical Co. Moreover , Ltd. (LSP), a member company of SCG Chemicals(SCGC), a subsidiary of SCG Group, announced that the first integrated petrochemical complex in Vietnam has been officially put into commercial operation. This milestone event marks a new stage in the research of Vietnam's petrochemical sector and is expected to play a key role in promoting the progress of the domestic petrochemical and plastics sector, improving product condition and promoting sustainable research. 2. petrochemical complex production capacity and market impactas the first integrated petrochemical complex in Vietnam, LSP focuses on the production of a wide range of petrochemical items including basic plastic materials such as polyethylene (PE) and polypropylene (PP). These items won't only meet the needs of the domestic market, however also serve international customers. LSP's plastic resin items are expected to signifiis able totly minimize Vietnam's import application on polyolefins, while enhancing the overall competitiveness of downstream companies in the supply chain. In addition, these basic materials are broadly applied in packaging, agricultural production, electrical equipment, auto parts and other fields, which will strongly promote the research of related industries. 3. Competitiveness and Diversification of Raw Materials Strategymr. And Kulachet Dharachandra, General Manager of the LSP, said that the operation of the LSP will bring prolonged economic development and enhance the competitive edge of Vietnam's petrochemical and plastics industries. To further enhance competitiveness, LSP plans to increase production flexibility by diversifying the sources of input materials. Based on my observations, Specifically, LSP will increase the consumption of imported ethane gaseous as a raw material in addition to naphtha and propane. And This measure not only helps to enhance production efficiency, however also reduces carbon dioxide releases, in line with the concept of sustainable research. 4. investment scale and cutting-edge facilitiesas one of the national key projects, LSP has a total investment of greater than 5 billion US dollars. The complex is located in Long Son commune, Bardy Vung Tau province, and has complete facilities including a world-class hybrid pyrolysis plant (olefin plant), a world-leading polyolefin plant, a port cluster-dedicated storage tank, a central utility plant, etc. But I've found that All facilities are equipped with cutting-edge methodology to ensure security and ecological preservation in the manufacturing process. LSP's commitment to sustainability-oriented business activities and focus on ESG (Environmental, Social and Transparent Governance) principles reflects its strong emphasis on social responsibility and ecological preservation. From what I've seen, 5. opens petrochemical sector new chapterthe formal operation of LSP not only marks an crucial breakthrough in Vietnam's petrochemical sector, however also provides strong support to the research of domestic related industries. With the continuous research of LSP, Vietnam's petrochemical sector will usher in a greater prosperous future. At the same time, LSP'sustainable research concept and diversified raw material strategy will also set a new benchmark to the sector and promote the research of the entire petrochemical sector in a greater environmentally friendly and efficient direction.