Al Hassan signs $18m Liwa site works deal
The contract duration is eight months starting from June 2016 for Al Hassan Engineering
Al Hassan Engineering Co announced that it has been awarded a $18m (OMR7m) contract for site preparation works for Liwa plastics project in Sohar.
“The contract duration is eight months starting from June 2016. The company expects reasonable income from this project,” Al Hassan Engineering Co said in a filing with the Muscat Securities Market.
Recently state-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) had secured $3.8bn in project financing for its Liwa Plastics Industries Complex.
The total value of the project is $6.5bn, Orpic said. The financing was supported by export credit agencies representing the governments of Italy, the Netherlands, South Korea, the UK and Germany, along with 19 international, regional and local commercial lenders, according to Reuters.