FINANCIAL NEWS

Oman, Kuwait to ink Duqm refinery agreement

09 Apr 2017

(MENAFN) A mutual venture deal between Oman Oil Co. and Kuwait Petroleum Intl to construct the Duqm Refinery and Petrochemical Industries Co. will be signed on Monday.

In addition, the project, which will have a capacity to refine 230.000 barrels per day, is one of the major industrial projects in the Duqm Special Economic Zone.

Moreover, the project will also transform the zone into one of the key industrial and economic hubs in the Sultanate and nucleus petrochemical industries in the future.

Accordingly, the work related to leveling the site of the refinery, which stretches over 900 hectares, has been finished and it is projects to start operation in 2020.

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MENAFN0904201700450000ID1095379140

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