LSP will produce various petrochemical products, including essential plastic resins such as polyethylene (PE) and polypropylene (PP), for customers both domestically and internationally.

Plastic resins from LSP will help lessen imported polyolefin products and enhance competitiveness for downstream businesses along the value chain. They are building blocks for various industries, including packaging, agriculture, electrical appliances, automotive, and many more.

Kulachet Dharachandra, general director of LSP, stated, “We are proud to announce the commercial operation of our complex. We believe that LSP will bring growth to long-term economy and enhance competitive advantages to the petrochemical and plastic industry in Vietnam. However, in response to the continued global petrochemical industry downturn and volatile crude oil prices that are contributing to high raw material costs, LSP will optimise its operation mode, and accelerate operational excellence.”

LSP plans to increase operational flexibility by expanding the range of raw materials used in production. This strategy will allow for better cost management in line with market conditions and help mitigate the impact of raw material price fluctuations. The company plans to increase the proportion of imported ethane as a raw material, alongside the current use of naphtha and propane. The increased use of imported ethane will contribute to reducing carbon dioxide emissions.

LSP is a flagship investment for of SCGC and SCG in the region, with more than $5 billion. The complex is located in Long Son, Ba Ria – Vung Tau province, and has a world-scale mix feed cracker, world-class technology polyolefin plants, a specialised tank terminal, and a central utilities plant, and other supporting facilities which are fully equipped with advanced technology to ensure safety and be environmentally friendly. LSP is committed to conducting its business in line with sustainable development, focusing environmental, social, and governance standards.

LSP aims to play a key role in the development of the petrochemical and plastic industry landscape in Vietnam, as well as demonstrating its commitment to high quality and sustainability.