Work starts on US$5.4 billion petrochemical complex in Ba Ria-Vung Tau

Saturday, 2018-02-24 09:38:11
 Font Size:     |        Print

PM Nguyen Xuan Phuc (fourth from left) and delegates press the button to kick-start construction of the petrochemical complex.
 Font Size:     |  

NDO – Prime Minister Nguyen Xuan Phuc flicked the switch to kick-start construction of the Long Son petrochemical complex in the southern province of Ba Ria-Vung Tau on February 24.

The project is funded by the Long Son Petrochemical Co., Ltd, a joint venture between Thailand’s Siam Cement Group (SCG) and the Vietnam National Oil and Gas Group (PVN), covering an area of 464 ha of land and 194 ha of water surface, with a total capital of US$3.7 billion, which is projected to increase by US$5.4 billion.

This is the first fully integrated petrochemical complex in Vietnam with a capacity of 1.6 million tonnes of olefins per year. It has been designed to produce a wide range of petrochemical products, including the necessary materials for the plastics industry, such as polyethylene and polypropylene, and other products, with an annual capacity of more than 2 million tonnes.

The project will create about 20,000 jobs during its construction and more than 1,000 jobs when put into commercial operation in 2022.

Addressing the ground-breaking ceremony, PM Nguyen Xuan Phuc urged the investor to ensure the smooth progress of the project, whilst applying scientific and technological advances during the complex construction and assembly process, towards a standard of absolutely safe operation once completed.

PM Nguyen Xuan Phuc urged the investor to ensure the smooth progress of the project.

He requested that the investor and contractor abide by the regulations on the protection of natural and social environments, in addition to preserving the traditional culture of locals and rehabilitating natural forests within the project area in the aim of a sustainable and long-term development.

The Government leader asked ministries, sectors, the PVN, and Ba Ria-Vung Tau province to create favourable conditions for the successful implementation of the project, which he said holds both an economic and political meaning, as Vietnam and Thailand are strategic partners with close and neighbourly relations.

Earlier on the same day, PM Phuc visited and presented gifts to revolutionary veteran Dam Thi My, Vietnamese Heroic Mother Nguyen Thi Dan, and war-invalid Nguyen Ba Mui in Vung Tau city.