ORPIC to award $4.5bn plastic complex contracts
Oman Oil Refineries and Petroleum Industries Co says it has finalised negotiations with preferred bidders for a major plastics complex in the sultnate
State-owned Oman Oil Refineries and Petroleum Industries Co (ORPIC) has finalised negotiations with preferred bidders for $4.5bn worth of contracts to build a major plastics complex in the sultnate, according to a company statement.
The state-owned firm said the four engineering, procurement and contracting packages will be completed in four years, Arabian Business reported.
The plants are scheduled to be commissioned in 2019.
A joint venture between Chicago Bridge & Iron Co and CTCI will be awarded the contract for a steam cracker and utilities, ORPIC said.
In a seperate statement, Chicage Bridge & Iron revealed that the contract would be worth $2.8bn.
Tecnimont will be awarded a contract for plastic units, GS Engineering and Construction and Mitsui & Co a contract for natural gas liquids extraction facilities and Punj Lloyd a contract for a pipeline.
The Liwa Plastics Project, being built in Oman's northern port city of Sohar, is a big part of the sultanate's effort to diversify its economy away from hydrocarbons. It is designed to enable Oman to produce polyethylene for the first time, and to increase its output of polypropylene.