Salalah Methanol reiterates ICV commitment

Giving a major boost to the local companies, Salalah Methanol’s ammonia project has decided to allocate 20 per cent of the project’s value to in-country-value (ICV) at a meeting held on Monday at Hilton Salalah Resort.

The meeting was held under the joint auspices of Salalah Methanol and Canadian company SNCLavalin, which is currently involved in the engineering, procurement and construction (EPC) phase of its anhydrous liquid ammonia plant project, located in Salalah Free Zone.

The whole cost of the project is $460 million out of which $103mn would go against the ICV.

Awadh bin Hassan al Shanfari, CEO of Salalah Methanol, reiterated the company’s commitment to promote the local companies by giving them opportunity to participate in the existing and new projects.

“Today’s meeting with all the stakeholders was an effort to offer a platform to the presenter SNC-Lavalin and the local service providers to let them know and offer the best to each other,” he said.

He put stress on Salalah Methanol’s commitment raise the ICV to a level where all the local suppliers and service providers get benefits from big projects not only in terms of business and finance but also in terms of training and understanding the bidding processes etc.

“It is important for us to keep as much money as possible in Oman, to be more precise, we have to recycle the dollar in the country to give the economy a boost and support the companies which are operating in the country,” he said.