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FINANCIAL NEWS
Oman awards USD5.2b Liwa venture to industry leaders
25 Nov 2015
(MENAFN) An award estimated at USD2.8 billion from Oman Oil Refineries and Petroleum Industries Company (Orpic) will be given to the joint venture of US-based energy substructure services giant CB&I and Taiwanese CTCI Corporation.
Accordingly, the award consists of delivering procurement, engineering and construction for cracker Package 1, which includes the steam cracker and associated utilities for the Liwa Plastics Industrial Complex Project in Sohar.
In more detail, the massive USD5.2 billion Liwa Plastics project will transform Oman’s presence in the global petrochemicals marketplace let alone support the development of a downstream plastics business in the Sultanate.
Furthermore, the three packages for the entire vital venture comprise of the Natural Gas Extraction Unit in Fahud, the NGL pipeline between Fahud and Sohar and last but not least the three plastics plants in Sohar.
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