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Oman Oil Joint Venture To Build Ethylene Dichloride PlantOman Oil Company has signed a Shareholders Agreement with LG International of Korea and National Petrochemical Company of the Republic of Iran for the construction of an Ethylene Dichloride plant in the Sohar Port Industrial Area of Oman. The US$300m venture will be equally owned by OOC, LGI and NPC, each having a share of 33.3%. LGI will be the EPC contractor for the project while the feedstock is to be supplied by NPC. Planned capacity of the plant will be to produce 300,000 tons of ethylene dichloride per annum for the manufacture of various plastic products. The implementation of the project will provide 170 direct employment opportunities. Construction of the project is expected to commence in the first quarter of 2006. Commercial production is expected in the second quarter of 2008. Search for more LGI News Added to site on 22/11/04 |