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FINANCIAL NEWS
Oman finalizes USD4.5b plastics’ plant deal
26 Nov 2015
(MENAFN) State-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) has finalized negotiations with four preferred bidders for USD4.5 billion worth of agreements, according to the available data.
The deals are basically aimed at constructing a main plastic manufacturing unit called Liwa Plastic Industries Complex in Sohar, which is only one of the four engineering, procurement and contracting packages (EPC).
Additionally, the second development which is basically a steam cracker and utilities at a cost of a whopping USD2.8 billion will be carried out jointly by the Chicago Bridge & Iron Co of the United States and Taiwan’s CTCI.
The third project consisting plastics units, will be given to Italy’s Tecnimont, which leaves the consortium of South Korea’s GS Engineering and Construction and Japan’s Mitsui & Co with the natural gas liquids extraction plants.
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