Oman’s Oil Refineries and Petroleum Industries Co (ORPIC) will sign contracts worth more than $5b to build the Liwa plastics complex, reported Reuters.
Commitments to provide loan financing worth $3.7b are also in the works, sources said, adding that the financing will be split between a 15-year loan from commercial banks and a 16-year loan backed by export credit agencies.
According to Trade Arabia, ORPIC is also set to award four major engineering, procurement, and contracting (EPC) deals for its Liwa complex, located in the Sohar region.
The EPC contracts are for building a polymers plant in the Sohar industrial area, a natural gas liquids (NGL) extraction plant in Fahud, a steam cracker plant, and a 300km pipeline from Fahud to Sohar. The projects are expected to begin in 2019.