MOSCOW (MRC) -- Oman is close to awarding construction contracts and reaching financial close for its planned Liwa Plastics petrochemicals complex and Salalah LPG plant, as per Plastemart.
Approximately USD5.2 bln of funding is set to be in place for state-owned Oil Refineries and Petroleum Industries Co's (Orpic) Liwa Plastics project by the end of the year.
Contracts worth USD2.8 billion were awarded in late November to Netherlands-based CB and I and Taiwan's CTCI for the construction of an 880,000 tpa ethylene cracker and methyl tert-butyl ether plants.
Further contracts are expected to be signed - Italy's Tecnimont will build three plastics plants, South Korea's GS Engineering and Construction and Japan's Mitsui will build a natural gas liquids plant at Fahud, and India's Punj Lloyd will build a new pipeline connecting the gas plant to Sohar.
As MRC informed previously, Orpic has selected LyondellBasell's Spheripol polypropylene (PP) process technology for a new 300,000 tpy PP plant to be built in Sohar, Sultanate of Oman. Start-up of the Liwa plastics project is planned for 2018.
MRC