Escalating costs have led to the indefinite delay of Oman Petrochemical Industries Corp's. (OPIC) plans to build a petrochemical complex at Sohar, Oman. OPIC, a joint venture in which Dow Chemical holds 50% and the government of Oman and Oman Oil Co. each hold 25%, originally planned to have the complex onstream in 2008-09. But costs, originally pegged at US$2.6 bln, have almost doubled to US$4.5 bln, making the project too expensive for pursuit.
The project was to include gas extraction facilities at Fahud, and a 400-km pipeline from Fahud to Sohar, where a gas fractionation unit, an ethylene plant, and three polyethylene (PE) facilities were planned.
16-Jul-07 
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