Prime Minister Pham Minh Chinh receives Mr. Roongrote Rangsiyopash, President and CEO of SCG

Mr. Roongrote Rangsiyopash, President & CEO of SCG, ASEAN leading conglomerate, said after a courtesy meeting with His Excellency Prime Minister Pham Minh Chinh. “I am very honored that His Excellency Prime Minister granted the opportunity for SCG to meet.  We are developing 2 new projects and would like to seek His Excellency blessing and guidance including the expansion of LSP Phase 2 and LSP debottlenecking project. LSP2 will employ advanced, environmentally friendly technology and will concentrate on the production of high-value-added products such as green polymers following the ESG (Environmental, Social, and Governance) guidelines to create sustainable development. The project will be established in the same area as LSP1, benefiting from the availability of infrastructure to expand the plant. Official application submissions will be made on the following occasion. Apart from supporting Vietnam’s economic growth, we anticipate that these two projects will increase growing potentials for a better quality of life with the future in-demand workforces to meet market expansion in the petrochemical and related industry.”

The Prime Minister suggested that SCG focus and closely coordinate with ministries, branches and localities of Vietnam so that the project can be operated commercially as planned, ensuring safety and efficiency.

"We also provide updates on Long Son Petrochemicals Complex (LSP), which adheres to global safety and environmental standards. It is targeted for a partial start-up in 2022 and a full start-up in early 2023.” Said Mr. Roongrote.

SCG provided updates on Long Son Petrochemicals Complex (LSP), which adheres to global safety and environmental standards

SCG continues to expand investments in the petrochemical industry in Vietnam which is the largest investment of SCG outside Thailand. The country is a market with high potential for petrochemical business because it is a net importer of plastic resins as domestic production is insufficient to meet the demand.  LSP project has an annual capacity of olefins at 1.35 million tons and polyolefin at 1.4 million tons.  SCG further investment in the petrochemical industry in Vietnam as discussed today is mainly aimed to meet the demand of the domestic market in Vietnam.