The event also saw the presence of Thai Ambassador to Vietnam Manopchai Vonghakdi besides local officials. The 464ha project is invested by the Long Son Petrochemical Co., Ltd., a joint venture between Thailand’s Siam Cement Group (SCG) and the Vietnam National Oil and Gas Group (PetroVietnam), with a total capital of USD 5.4 billion. At the ceremony to start construction on the Long Son Petrochemicals Complex on February 24 in Ba Ria-Vung Tau Once operational in 2022, the complex is expected to have a capacity of 1.6 million tons of olefin per year. According to Chairman of Ba Ria-Vung Tau provincial People’s Committee Nguyen Van Trinh, during construction, the project will create jobs for around 20,000 laborers. Once operational, it is expected to create jobs for over 1,000 technical workers and contribute about USD 60 million per year to the provincial and the state budget. Speaking at the event, PM Nguyen Xuan Phuc said that the start of the project was good news for Vietnam’s petrochemical sector. As this was the initial phase of the project, the investor should exert efforts to ensure the project’s progress and apply advanced technologies in order to ensure absolutely safe operation, he stated. He asked Ba Ria-Vung Tau province to supervise the investor’s compliance to regulations on protecting the natural and social environments, maintaining locals’ traditional culture, and restoring local natural forests to serve sustainable and long-term development. Given the large number of workers participating in the project’s construction, the Government leader requested the… [Read full story]
PetroVietnam and the Vietnam National Chemical Group (Vinachem) have signed a joint venture agreement with Qatari and Thai partners to build a US$4.5 billion petrochemicals complex in Long Son Island in the southern province of Ba Ria-Vung Tau. The foreigner partners are Siam Cement Group and TPC, also of Thailand, and Qatar International Petroleum. Siam Cement Group will hold a 28% stake in the project, while TPC will have 18%, Petro Vietnam and Vinachem 29%, and Qatar International Petroleum 25%. The construction of the petrochemicals complex is expected to take four to five years, and will consist of a 1.4…... [read more]
Construction of the Long Son Petrochemicals (LSP) complex in southern Ba Ria Vung Tau province is scheduled to take four and half years and commercial operations will begin in the first half of 2022, Mr. Roongrote Rangsiyopash, President and CEO of SCG, told a meeting releasing the company’s unaudited operating results for the second quarter and first half of 2017, in Bangkok on July 26. “SCG has recently approved investment in the first petrochemicals complex in Vietnam, Long Son Petrochemicals, with a 71 per cent stake and investment of $5.4 billion, with the Vietnam Oil and Gas Group (PetroVietnam),” he…... [read more]
Construction of $4.5 billion Long Son petrochemical complex in the southern province of Ba Ria-Vung Tau will resume before the end of this year, following the recent restructing of shareholders in the joint venture company.
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According to newswire Bangkok Post, SCG now owns 71 per cent through its wholly-owned subsidiaries Vina SCG Chemicals Co., Ltd. (SCG Chemical) and Thai Plastic and Chemicals in the joint venture, while Vietnam's oil and gas group PetroVietnam holds the remaining 29 per cent.
The move marks big progress…... [read more]
HCMC - Long Son Petrochemicals Co., Ltd., a joint venture between two local and two Thai companies, began work Thursday on the country's largest petrochemical complex. The facility on Long Son Island off the southern province of Ba Ria-Vung Tau, 125 km southeast of HCMC, will need total investment capital of nearly US$3.8 billion and cover some 400 hectares in Long Son Oil and Gas Industrial Park. The stakeholders are PetroVietnam and Vietnam National Chemical Corporation (VinaChem) on the Vietnamese side, and two subsidiaries of Thailand's Siam Cement Group - Vina SCG Chemical Co. Ltd. (VSCG Chem) and Thai Plastic…... [read more]
(CPV)- Long Son Petrochemicals Co., Ltd. today (September 25) kicks off the first world-scale petrochemicals complex value in Long Son at the newly-inaugurated Long Son Oil & Gas Industrial Park, Ba Ria- Vung Tau province with the total investment is approximately 4 billion USD. Long Son Petrochemicals Co., Ltd. is a joint-venture petrochemicals complex of Vietnam Oil and Gas Group (PetroVietnamp-PVN), Vietnam National Chemical Corporation (Vinachem) and SCG subsidiaries including Vina SCG Chemicals (VSCG Chem) and Thai Plastic and Chemicals Public Company Limited (TPC). Dr. Tran Ngoc Canh, CEO of PVN said: "In the implementation of the government's strategies to…... [read more]
