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FINANCIAL NEWS
Orpic inks major deals to construct USD6.4b Liwa complex
20 Dec 2015
(MENAFN) Oman Oil Refineries and Petroleum Industries Company (Orpic) has closed 15 deals, including 4 key engineering, procurement and construction (EPC) agreements with contracting firms and financial institutions.
Accordingly, all these vast and high-scale contracts were for the sole purpose of constructing and operating the vital USD6.4 billion Liwa Plastics Industries Complex (LPIC) in Sohar, according to the recent reports.
Moreover, the successful proponents were selected due to the strength of their technical and financial bids, therefore these crucial EPC deals marks an important milestone in the history for Orpic and LPIC.
“We are very confident that once the plant commissioning is completed in the year 2019, LPIC will change Orpic’s product mix by extracting more value from natural gas and crude oil,” stated Orpic chairman.
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