Work on Liwa Plastics to start on Thursday
Oman Oil Refineries and Petroleum Industries Company (Orpic) will conduct a ground breaking ceremony to start work on its Liwa Plastics Industries Complex (LPIC) on April 27 in Fahud.
MUSCAT: Oman Oil Refineries and Petroleum Industries Company (Orpic) will conduct a ground breaking ceremony to start work on its Liwa Plastics Industries Complex (LPIC) on April 27, 2017 at Fahud in the Wilayate of Ibri.
The event will be held under the patronage of Sultan bin Salim Al Habsi, Secretary-General, Supreme Council for Planning and Orpic chairman, in the presence of a number of officials and community members from the Wilayate of Ibri, according to a press release from the company.
Natural gas extraction
The engineering and procurement and construction (EPC 3) brings for the first time to Oman the Natural Gas Extraction Plant, worth $688 million, which is a consortium of two corporations namely GS Engineering and Construction, and Mitsui & Co. Ltd.
LPIC will firmly reinforce Orpic as a recognised player in the international petrochemicals marketplace – enabling Oman, for the first time, to produce polyethylene, the form of plastic that rates highest in terms of global demand and increased the cur- rent production of polypropylene.
Liwa Plastics Industries Complex is the largest of the three strategic growth projects undertaken by Orpic to fulfil its vision of building an Omani integrated refining and petrochemical business. This project will be the first-of-its-kind in the Sultanate and will enable Oman to take the downstream plastics industry to the next level.
Growth in profit
Upon commissioning in 2020, Liwa Plastics Industries Complex will transform Orpic’s product mix and business model, double company profit, create new business opportunities, generate significant employment opportunities and support the development of a downstream plastics industry in Oman.
Following commissioning, plastics production is forecast to have increased by more than 1 million tonnes, giving Orpic a total of 1.4 million tonnes of polyethylene and polypropylene production.