Liwa Petrochemical Company on Tuesday signed a $300 million (Dh1.1 billion) worth licence-technology-core equipment supplier agreement with Uhde GmbH of Germany for the ethylene dichloride (EDC) plant in the Sohar Port Industrial Area.
The agreement was signed on behalf of Liwa Petrochemical by Mohammad Bin Hamad Al Rumhi, Oman's Minister of Oil and Gas and Chairman of the company, and Helmuth Knauthe, Member of the Executive Board, for Uhde.
Rumhi told Oman News Agency, "With this agreement, we believe that Uhde will provide the finest technology services for the EDC plant because of its experience in the field. We hope this agreement will be a successful beginning of a long partnership between Uhde and the Liwa."
He said, the capacity of the plant is 300,000 tonnes of EDC per annum and the produce will be used in manufacturing plastic products by downstream projects in Sohar, and also exported to international markets.
The project will provide 170 direct employment opportunities, in addition to several others in the future potential downstream plastic industries.
Liwa Petrochemical is equally-owned by Oman Oil Company SAOC, LG International (LGI) of Korea and National Petrochemical Company (NPC) of the Islamic Republic of Iran, each having a share of 33.3 per cent.