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FINANCIAL NEWS
Oman to work on Duqm sebacic acid plant in Q1 2016
16 Dec 2015
(MENAFN) Building work on the Middle East’s sebacic acid plant will start at a site allocated within the Duqm Special Economic Zone (SEZ) in the coming year.
Accordingly, the USD 63mn project, sponsored jointly by Omani and Indian financiers, as a “good example” of Duqm’s appeal as a destination for foreign direct investment (FDI).
The project is planned to be improved in two phases, the first one will create as many as 450 jobs, while the second one will add almost 250 jobs to the workforce.
Moreover, Sebacic acid and its products have a variety of industrial uses in plasticizers, Lubricants, cosmetics and so on, and it also used as an intermediate for aromatics, antiseptics.
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