According to SCG’s first quarter performance review, the LSP complex safely and successfully had its first test run from January to February 2024. However, due to technical difficulties, the complex was shut down from March-June.

The complex has undergone maintenance and modification, and operating standards and practices have been strengthened. LSP is expected to restart in July, with the final test run and commercial operation date in August.

On March 22, SCG also announced that LSP’s downstream plants (high-density polyethylene, linear low-density polyethylene, and polypropylene) and utilities had passed their test run inspections in December 2023. Following this, the complex-wide test run, which includes the Olefins downstream and upstream plants, was implemented.

After the unexpected technical difficulty was identified, it was estimated that LSP would resume the test run in June 2024. Furthermore, Rayong Olefins Co., Ltd.'s plant resumed operations after maintenance at the end of March 2024, which minimised the impact on clients.

The total project cost of LSP is approximately $5.4 billion. As the first integrated petrochemicals project in Vietnam, the LSP project has an area of about 464 hectares and an additional 194ha of waterfront for a deep-water sea port.

When put into operation, the complex is anticipated to annually produce about 1.4 million tonnes of plastic pellets, an input material used to produce a range of plastic products used in everyday life.

According to LSP leaders, nearly 1,000 Vietnamese employees are expected to work at the petrochemical complex, which will generate about $1.5 billion in revenue next year.