LSP is Vietnam’s first integrated petrochemical complex which will produce various petrochemical products, including essential plastic resins such as polyethylene (PE) and polypropylene (PP), to serve 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. Also, they are building blocks for the various industries including packaging, agriculture, electrical appliances, automotive and many more.

Mr. Kulachet Dharachandra, General Director of LSP, stated, “We are proud to announce the commercial operation of our complex. We believe that the commence of LSP will bring growth to long-term economic 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 contributing to high raw material costs, LSP will optimize its operation mode, and accelerating operational excellence.”

To enhance competitiveness, 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 gas 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 the one of national important projects and flagship investments of SCGC and SCG in the region with investment more than 5 billion USD. The complex located in Long Son, Ba Ria – Vung Tau province. The complex comprises world-scale mix feed cracker, world-class technology polyolefin plants, specialized tank terminal and central utilities plant, and other supporting facilities which fully equipped with advanced technology ensuring safety and environmentally friendly. LSP committed to conducting its business in line with sustainable development focusing on ESG (environmental, social and governance).