Oman’s Oil Refineries and Petroleum Industries Company (Orpic) revealed that its $6.5b Liwa Plastics Industries Complex (LPIC) project has reached the detailed engineering phase. The company noted that the overall project is on track, and the ground-breaking ceremony has been scheduled on October 10, reported Trade Arabia.
Upon commissioning in 2020, the project will transform Orpic’s product mix and business model, it is expected to double company’s profit, create new business opportunities, generate significant employment opportunities and support the development of a downstream plastics industry in Oman, according to Muscat Daily.
This project will be the first-of-its-kind in the sultanate as it fulfills the country’s vision of building an Omani integrated refining and petrochemical business. Furthermore, LPIC is one of three strategic growth projects being delivered by Orpic, these include Sohar Refinery Improvement Project that is expected to come online late 201), Muscat- Sohar Pipeline expected in 2017, and the Al Jifnain Terminal.