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|The layout of Long Son Petrochemical complex|
Notably, on June 28, Samsung Engineering and Thai investor SCG signed an EPC contract to develop Package B worth $304.14 million and Package C worth $250.46 million for two plants to be built in LSPC.
According to the plan, the Package B plant has a designed capacity of 450,000 tonnes of high density polyethylene (HDPE) and the Package C plant was designed with the capacity of 400,000 tonnes of polypropylene (PP) per year.
Previously, in early February, two South Korean contractors signed a $2.7 billion deal for Long Son complex.
|LSPC is located in Long Son commune of Ba Ria-Vung Tau province, 100 kilometres from Ho Chi Minh City. This integrated petrochemical complex will have a total olefin production capacity of 1.6 million tonnes per year.|
Notably, SK E&C announced that it will co-operate with Technip of France to develop an ethylene plant project with the total investment capital of $2 billion ($1 billion from each). The ethylene plant is one of the segmented parts of the project, including a polypropylene and a polyethylene plant. SK E&C will build the ethylene plant and other utility facilities.
The construction will be implemented in the form of a turnkey system, including basic design, detailed design, purchasing, construction, and test runs. The construction will last for 53 months.
On the same day, POSCO E&C announced signing a contract with Vietnam Long Son Petrochemical (LSP), a joint venture of SCG and PetroVietnam, for the construction of a wharf facility worth $680 million in Ho Chi Minh City to serve the Long Son complex.
Previously, in October 2017, Hyundai Engineering and Construction Company (HEC) won a $320 million contract to build facilities at LSPC. The project would be carried out on a turnkey basis, meaning HEC would be responsible for the entire construction, from design to test operations. The company estimates construction will take 47 months after ground is broken.
Back to LSPC, in February, Vietnam Long Son Petrochemical (LSP) officially kicked off its long-awaited LSPC after more than ten years of development.
In late May, SCG reached an agreement to buy PetroVietnam's 29 per cent in the LSPC, leaving it king of the hill.
This step once more confirms SCG's determination to implement the petrochemical complex that was delayed for more than 10 years.
LSPC is located in Long Son commune of Ba Ria-Vung Tau province, 100 kilometres from Ho Chi Minh City. This integrated petrochemical complex will have a total olefin production capacity of 1.6 million tonnes per year.
The complex is designed to produce various petrochemical products, including essential plastic materials such as polyethylene, polypropylene, and other products in excess of two million tonnes per year, enabling it to substitute imported polyolefin products. Non-petrochemical supporting infrastructure, such as a deep sea port and other facilities, are also included.