VINACHEM

Vietnam’s Long Son Petrochemical complex is now 96% complete, with full start-up expected by the second quarter of next year, Thai conglomerate and project owner Siam Cement Group (SCG) said on Wednesday.

The $5.4bn petrochemicals complex is the country’s first and is being built in the southeastern Ba Ria-Vung Tao province.

The start-up process began with utilities in the second quarter of 2022, with downstream operations to begin in the fourth quarter of the current year, while upstream operations will commence in the second quarter of 2023, the Thai producer said in its second-quarter results presentation.

CG has secured long-term naphtha and propane volumes from the Middle East as feedstock for LSP’s flexible feed cracker.

Pre-marketing activities with domestic customers for the project were conducted from mid-2021.

SCG’s second-quarter net profit declined by 42% year on year as chemical margins shrunk amid higher feedstock costs.