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FINANCIAL NEWS
Oman’s Orpic invests USD 320mn for Sohar pipeline project
07 Jun 2016
(MENAFN) Oman Oil Refineries and Petroleum Co. (Orpic) is investing USD 320mn for constructing a 290 kilometer-long pipeline between Muscat and Sohar for moving refined products.
The Muscat Sohar Product Pipeline and the Al Jifnan Terminal project will enable a connection between Orpic’s Mina Al Fahal Refinery and the Sohar Refinery.
Moreover, the Al Jifnan Terminal will have an investment of almost USD 100mn and the pipelines and associated investment is estimated to be USD 220mn.
Accordingly, the project is commercial one and its returns depend on the revenues produced from the use of the logistics assets of Orpic customers.
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