Starting up construction of the Southern Oil Refinery Complex

 PM Nguyen Xuan Phuc speaking at the groundbreking ceremony of Southern Oil Refinery Complex (Long Son Petrochemicals - LSP)

LSP invested by Long Son Petrochemical refinery Company Ltd (a joint venture of Thai SCG and PetroVietnam) with a total investment capital of US$ 3.77 billion (expected increase to US$ 5.4 billion) covers around 464ha of land and 194ha of water surface for the seaports.

This is the first fully integrated petrochemical refinery complex in Vietnam that designed for producing 1.6 million tons/year of olefine, and 2 million tons/year of polyetylen, polypropylen and other products which currently are being imported.

With the five-year deplopment period (expected in operation by 2022), the project will create about 20,000 jobs during the construction.

Speaking at the ceremony, PM Nguyen Xuan Phuc emphasized that implementing LSP project is very a concretization of the strategy on oil and gas development of the country to 2025 and vision up to 2030.

Groundbreking ceremony

On behalf of the government, PM Phuc praised SCG and PVN, Long Son company that have overcome a lot of dificulties and challenges to carry out today breakground ceremony. PM also praised and high appreciated administrations of Ba Ria -Vung Tau province, Vung Tau town and Long Son commune, and especially the local people for supporting policy of resettlement to save land for the project.

Emphasizing that it is only the beginning stage of the project, PM asked the investors to apply the scientific advances, modern technologies during project implementation for it to be absolutely safely operated after completion. PM also asked investors and contractors to comply with the regulations on natural and social environmetal protections as well as to preserve the cultural traditions of local people and recover natural forests in the area for long-term development.

Finally, the Prime Minister Nguyen Xuan Phuc noted that the project is not of economic significance but also of great political significance as Vietnam and Thailand are strategic partners with the close ties and friendship.         

VietnamEnergy.vn