Bids start for $4bn Liwa plastics plant project
Oman's state-owned Orpic has tendered four EPC packages for the project located across the country
Bidding is now underway for four engineering, procurement and construction (EPC) packages of Orpic’s $4bn Liwa Plastics Industries Complex in Oman
The developmenmt consists of a polymers plant in Sohar’s industrial area, an NGL extraction plant in Fahud, a steam cracker plant, and a 300-KM pipeline from Fahud to Sohar.
Orpic said that is has received a positive response with five technical bids submitted for the polymers plant and three technical bids for the NGL extraction package. A number of bids are also expected on the steam cracker and pipeline packages by mid-August.
Musab Al Mahruqi, CEO of Orpic, said: “It’s positive to see so many strong technical bids submitted from several notable proponents and JV partners. This project will be one of the largest in the region, and we expect to be making a significant impact on the local economy through EPC works alone.”
Al Mahruqi said Orpic is on track to conclude evaluation of bids for all the packages early October, with the final investment decision to be decided by the end of that month.
Once bids are submitted for the remaining two packages, they will be evaluated in October and awarded soon after.
Al Mahruqi added: “We are currently in discussion with eight export credit agency’s regarding project due diligence, and the terms and conditions of financing this project, and we plan to launch requests for proposals to commercial banks over the coming month.”.
Orpic is aiming to raise $4bn for this project, and targeting to sign financing agreements concurrently with the award of the EPC contracts.