Plastics Portal For Buying And Selling Plastic Products
CONNECTING BUSINESSES IN THE WORLD OF PLASTICS
Go to->Home - PlasticNews
Oman Oil Company and LG ink agreement to jointly develop a petrochemical pl... (6-12-2012)
 
Oman Oil Company (OOC) and LG International (LGI) have signed an agreement to jointly develop a petrochemical plant at the Sohar Port. The joint venture company, which will be owned 70% by OOC and 30% by LGI, will execute the project in accordance with international standards to produce a total of 1.1 mln tons of purified terephthalic acid (PTA) and 500,000 tpa of polyethylene terephthalate (PET). The project, which is estimated to cost around US$850 mln and will be operational by the end of 2016, will be completed in two phases, as per Oman News Agency.
Al Jashmi, Undersecretary at the Ministry of Oil and Gas and Chairman of OOC said: “The development of the PTA/PET complex is an important investment project and will help step up downstream projects based on PET. In addition, the project will create more employment opportunities for Omanis. The project highlights the economic importance of setting up diversified industrial projects in Port of Sohar and supports the government’s efforts in diversifying the national economy and attracting foreign direct investments,” he added.
The project will also support In-Country Value and contribute to the Omani economy by way of engagement of local contractors and suppliers, use of feedstock produced by the aromatics complex in Sohar owned by Oman Refineries and Petroleum Industries Company (Orpic) and the use of Sohar Port for import of plant equipment and other raw materials.
Previous News Previous News
Next News Next News
Forward to friend Forward this news to friend Print this News Print this news
Back
Back To Recent News Archives
Disclaimer
Recent News
• Naphtha crack in Asia almost 8% higher than March levels
• China is world number one in terms of producing, importing and consuming paraxylene
• Shintech applies for permit to build 500,000 tpa grassroots ethylene plant
• PP, PE markets firm up on limited supplies in Vietnam
• Reliance Industries commissions polyester plant at Silvassa
  
Available
UM-9575 - Clamping Force: 1800 KN - Min Mould height: 200 mm - Mould ...
UM-9684 Model: NESA - Completely (electronicall...
UM-9679 1) Calender machine 1 Set - Size: Roll diameter 356 mm x width 1...
UM-9665 - 2500 x 800 Proposed Material width and thickness (PVC with Fil...
UM-9671 Model: HSR 50 (1)Year: 1981 for the production of tubulars and ...
UM-9666 1) Calender Machine - Bongshin - 24 inches diameter x 92 inches...
UM-9663 - Tonnage: 500 - Shot size: 76 oz. - Screw diameter: 90 mm - C...
UM-9656 Model: NB 190 - Shot weight: 750 gm - Distance between tie bars...
UM-9661 Control: Rebuild 2002 - Servo Platens - Max tool size: 40" W x 4...
UM-9659 Model: M 85S - Resin: PE / PP - Number of extruders: 1 - Volta...