$5 billion petrochemical complex in Ho Chi Minh City to resume operations at the end of August

After many months of suspending commercial operations, SCG Group (Thailand) said that its Long Son Petrochemical Complex in Ho Chi Minh City (formerly Ba Ria - Vung Tau) is expected to resume operations at the end of August.

SCG Group (Thailand) said that Long Son Petrochemical Complex is expected to resume operations at the end of August - Photo: NGOC HIEN

On August 11, SCG Group (Thailand) said that this enterprise plans to restart the Long Son Petrochemical Complex (LSP) project.

Specifically, SCG Group said that in the context of falling crude oil prices helping improve operational efficiency, the group plans to restart the Long Son Petrochemical Complex (formerly in Ba Ria - Vung Tau , now Ho Chi Minh City) at the end of August 2025.

According to SCG Group, this plan demonstrates SCG's proactive orientation to maintain long-term operations and ensure readiness for market challenges.

In addition, the project to enhance the complex's competitiveness through the application of ethane feedstock continues to be implemented on schedule and is expected to be completed in 2027.

Previously, at the end of 2024, SCG said that Long Son Petrochemical Complex had temporarily suspended commercial operations after a period of operation, and would restart production when the market recovered.

This complex will also be invested 700 million USD to upgrade, to use raw materials with more competitive prices.

Long Son Petrochemical Complex will begin commercial operations from September 30, 2024, after a trial operation period with an output of 74,000 tons of plastic pellets during the trial phase.

However, SCG said at that time that Long Son Petrochemical Complex had temporarily suspended commercial operations to "manage total business costs", as the petrochemical industry faced challenges from oversupply and falling global demand.

Long Son Petrochemical Complex alone recorded a net loss in the third quarter of 2024 (excluding interest rate swaps) of about VND 1,560 billion (equivalent to USD 62.9 million).

SCG recorded revenue of more than 16,000 billion VND in Vietnam

SCG is a leading multi-industry corporation in Southeast Asia, founded in 1913 in Thailand, currently has more than 200 member companies and about 57,000 employees worldwide.

In Vietnam alone, in addition to the petrochemical industry, SCG also operates in the packaging and construction materials sector with 28 member companies and more than 16,000 employees.

In Vietnam, SCG recorded sales revenue of nearly VND16,600 billion (equivalent to USD634 million) in the first 6 months of the year, down 1% compared to the same period last year.

SCG said that the 1% decrease in revenue shows that business activities remain relatively stable, in volatile market conditions.

NGOC HIEN - DONG HA

Source: https://tuoitre.vn/to-hop-hoa-dau-5-ti-usd-o-tp-hcm-se-tai-van-hanh-vao-cuoi-thang-8-20250811164643499.htm