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|The CEO of SCG met with the Vietnamese Prime Minister Pham Minh Chinh|
Roongrote Rangsiyopash, president and CEO at ASEAN leading conglomerate SCG, said after a courtesy meeting with Prime Minister Pham Minh Chinh, “I am very honoured that the prime minister granted the opportunity for SCG to meet. We are developing two new projects and would like to seek his blessing and guidance on the expansion of LSP2. LSP2 will employ advanced, eco-friendly technology and will concentrate on the production of high-value-added products such as green polymers to create sustainable development."
He further explained that the project will be established in the same area as LSP1, benefiting from the availability of infrastructure to expand the plant.
"Apart from supporting Vietnam’s economic growth, we anticipate that these two projects will increase growing potentials for a better quality of life with future in-demand workforces in the petrochemical and related industry,” he added.
"We also provided updates on LSP, which adheres to global safety and environmental standards. It is targeted for a partial startup in 2022 and a full startup in early 2023," said Roongrote.
SCG continues to expand investment in the petrochemical industry, which is the largest investment of SCG outside Thailand.
The country has a high potential for petrochemical businesses because it is a net importer of plastic resins as domestic production is insufficient to meet the demand.
LSP has an annual capacity for olefins of 1.35 million tons and polyolefins of 1.4 million tons. SCG's further investment in the petrochemical industry in Vietnam mainly aims at meeting the demand of the domestic market in Vietnam.
|The discussion on expanding LSP2 with green, advanced technology and sustainable development took place at the Government Office|
|SCG continues to expand investments in the petrochemical industry in Vietnam, which is the largest market of SCG outside Thailand|