Vietnam Lee & Man Chemical's US$203.6 Million Chemical Plant Advances Construction

en.Wedoany.com Reported - On September 10, Lee & Man Chemical Limited announced that the chemical production base located in Phu My 3 Specialized Industrial Park in Ho Chi Minh City, Vietnam, is advancing preliminary preparations and construction as planned, with the goal of entering trial production by the end of 2027. The project has a total registered investment of approximately US$203.6 million. It is Lee & Man Chemical's first production base built outside mainland China and an important part of the company's plan to expand chemical production capacity over the next 18 months.

The project is implemented by Vietnam Lee & Man Chemical Company Limited, a subsidiary of Lee & Man Chemical, with the plant site located in Phu My 3 Specialized Industrial Park, Tan Phuoc Ward, Ho Chi Minh City. Lee & Man Chemical signed a land sublease contract in December 2025, acquiring approximately 285,000 square meters of industrial land and an adjacent water area of approximately 21,600 square meters, with the land lease term lasting until December 2077. The related infrastructure costs amount to approximately VND 15.395 trillion, and the project construction land has been confirmed.

In a disclosure filing with the Hong Kong Stock Exchange, Lee & Man Chemical stated that the Vietnam project will build chemical production facilities independently operated by the group, with most products planned to be supplied directly to the local Vietnamese market. The company chose Phu My 3 Specialized Industrial Park mainly considering the park's connectivity with ports and transportation infrastructure, as well as the stable power and industrial utilities conditions required for chemical production. After the project is commissioned, Lee & Man Chemical will for the first time establish physical chemical production capacity outside mainland China.

Lee & Man Chemical's existing business mainly involves basic and fine chemical products such as caustic soda, hydrogen peroxide, and polytetrafluoroethylene. In 2025, the group's actual production was approximately 610,000 tons of caustic soda, approximately 390,000 tons of hydrogen peroxide, and approximately 8,000 tons of polytetrafluoroethylene, while maintaining production of other chlor-alkali and chemical products. The new Vietnam base will further extend its production system from mainland China to the Southeast Asian market.

According to the company's 2026 interim disclosure, the Vietnam plant is currently in the construction advancement phase, and trial production by the end of 2027 is the next key milestone. As plant buildings, utilities, and production facilities continue to be constructed, the project will become one of the new large-scale chemical manufacturing projects in Phu My 3 Specialized Industrial Park.