Print

According to a media report, Vietnam’s Long Son Petrochemical project is set to break ground construction work in quarter 3 this year after several delay over the past eight years.

It is reported that Thailand’s   Siam   Cement   Group   (SCG) has   acquired the 25 per cent remaining stake from the project after Qatar Petroleum International (QPI) decided to withdraw in late 2015. The purchase worth $36.1 million raises SCG’s stake in Long Son Petchem from 46 per cent to 71 per cent, making it the largest shareholder. The remaining 29 per cent is held by Vietnam Oil and Gas group PetroVietnam (PVN).

Located in Southern Vietnam, the complex would consist of a dual feed cracker using both naphtha and gas to produce an annual olefins output of 1.6 million tons. At the downstream units, the project planned to include a PP and a PE (HDPE/LLDPE) line with total capacity of 1.45 million tons/year as well as a 280,000 ton/year of chloralkali and other materials.

Once completed in 2020, Long Son will be the biggest of its kind in Vietnam, which aim to meet growing demand in local market.