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FINANCIAL NEWS
Omifco plans to grow its operations in Oman
13 Oct 2015
(MENAFN) Oman India Fertilizer Company’s (Omifco) intends to double its production volume with a debottlenecking scheme and a third train but waiting on a government decision to supply additional gas.
The firm which is worth USD960 million is a joint venture equally owned by Oman Oil Company and India’s two fertilizer firms, and it plans to construct a third train and implement a de-bottlenecking project.
Omifco at the time being operates two matching factories of 2,530 tons daily each of urea and two identical plants of 1,750 tons per day each of ammonia, and it’s expecting overall production of urea to hit 1.92 million tons this year.
“We are ready with the project and are waiting for additional gas from the government of Oman. The government is positive on the plan. As soon as the gas is available, we will proceed with the project,” said the CEO of Omifco.
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