Investment plan approved for Vietnam’s first petchem complex
Earlier in March this year, SCG announced increasing its direct and indirect stake in LSP to 71% (from 46%) while the Vietnamese parties hold 29%.
Reports revealed that LSP issued a letter of award to contractors for the construction while the final contract is expected to be signed sometime in the second half of this year.
The construction is expected to be completed in four and a half years and the new complex is projected to be operational by the first half of 2022.
The full project is expected to be worth about $5.4 billion.
According to SCG’s website, the project will house a 1 million tons/year ethylene cracker with flexible gas and naphtha feed to yield in total olefins capacity of up to 1.6 million tons/year depending on the feedstock mix. The olefins cracker will be fully integrated to the downstream polyolefins (PE / PP) capacities of similar scale.
LSP is located just 100 km from Ho Chi Minh City, the main market and economic heartland of Vietnam.
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