Petrochemical complex worth $5B to open next year

The complex has been built to high safety standards with noise reduction features, said Kulachet Dharachandra, CEO of Long Son Petrochemicals Company, which is the project developer.

The complex will have 1,000 employees, of which 80% will be Vietnamese. In the last five years, Long Son has spent over $2 million on the transfer of technology transfer and local staff training to ensure a high ratio of Vietnamese employees.

Prime Minister Pham Minh Chinh said last year that the Southern Petrochemical Complex will play a significant role – alongside the Nghi Son Refinery in the north, and the Binh Son Refinery in the central region – in forming a network of refineries across the country to ensure the supply of petroleum for the domestic market.

One of Vietnam’s first large integrated petrochemical complexes with multiple functions and flexible input handling capabilities, the complex will have the capacity to produce 1.4 million tons of polyolefin, which is used for the manufacturing of various plastic products.

The Southern Petrochemical Complex is forecast to record a revenue of $1.5 billion next year and contribute $150 million in taxes to Ba Ria – Vung Tau.