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FINANCIAL NEWS
Oman to build USD3.5 b petchems plant by 2016
24 Jul 2013
(MENAFN) Oman will opened doors for bids on its USD3.5 billion project to build a steam cracker plant, reported Arabian Business.
The project which is set to be completed by 2016 in the northern industrial port city of Sohar, is aimed at producing 1 million tones of petrochemical products a year.
Sources reported that Oman Oil Refineries and Petroleum Industries Co (Orpic) will finance the project, adding: “By then, the Sohar refinery’s expansion will be completed because 50 percent of the feedstock for the steam cracker will come from this refinery.”
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