Indian petrochemicals manufacturer JBF Industries Ltd. has inked a Memorandum of Understanding with state owned Oman Oil Company SAOC (OOC) to jointly build a major purified terephthalic acid (PTA) plant at Port of Sohar.
A 1.2 mln tpa capacity PTA plant is being planned at a total investment of US$680 mln. The proposed venture will be located near the newly commenced US$1.68 billion complex of Aromatics Oman LLC (AOL). Feedstock for the new plant will be sourced from the adjacent AOL plant that produces paraxylene and benzene. AOL is 70% owned by OOC, 20% owned by Oman Refineries and Petrochemicals Company (ORPC) and 10% by LG International.
Gujarat-based JBF Industries, which commenced operations in 1982, is a leading player in the production and supply of polyester chips and partially oriented yarns (POY).