The investment adjustment raises the total outlay from $5.656 billion, according to Vietnamese media reports in mid-October. LSP is wholly owned by SCG Chemicals, a subsidiary of Thailand's SCG Group.
The complex is designed to produce ethylene, propylene, 1,3-butadiene, high-density polyethylene, linear low-density polyethylene and polypropylene. It covers about 398 hectares of land plus water and port areas.
LSP began operations in 2022 but suspended production in mid-May 2026 amid difficulties in the global petrochemical market, feedstock supply constraints and logistics challenges, with the shutdown potentially lasting until March 2027. During the suspension the company continues trading and supplies polyolefins to the domestic market.
As of June 2026, construction of main feedstock storage tanks was 61.5% complete and modifications to the olefins plant to enable ethane use were 42.9% complete, both targeted for completion in the fourth quarter of 2028. After the upgrade, olefins capacity will reach up to 1.35 million mt/year.
City authorities asked LSP to secure sufficient capital and coordinate with local authorities on detailed planning aligned with Ho Chi Minh City's zoning master plan.
