$5B petrochemical complex goes on stream in southern province

The complex in the southern coastal province of Ba Ria – Vung Tau, which took five years to construct, is capable of producing 1.35 million tons of olefins and 1.4 million tons of polyolefin annually. These compounds are used to produce a variety of plastic products.

The output is meant for both domestic consumption and export.

It was developed by Long Son Petrochemicals Company, a subsidiary of Thai conglomerate Siam Cement Group.

Its CEO, Kulachet Dharachandra, said the complex is expected to boost the competitiveness of Vietnam’s petrochemical and plastic industries.

It targets annual revenues of $1.5 billion and creation of 1,000 jobs. Another 800, half of them locals, will be hired by its long-term contractors.