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Oman’s ORPIC finalises talks for $4.5bn plastics complex

Oman’s ORPIC finalises talks for $4.5bn plastics complex
Photo Credit: Arabianeye - Reuters

Mubasher: State-owned Oman Oil Refineries and Petroleum Industries Co (ORPIC) said Thursday it completed talks with its preferred bidders for $4.5 billion worth of contracts to build a major plastics complex in the sultanate.

There are four engineering, procurement and contracting packages that will be completed in four years, the company said, adding that the plants will start operation in 2019.

According to ORPIC, a joint venture of Chicago Bridge & Iron Co of the United States and Taiwan's CTCI will be awarded a contract for a steam cracker and utilities, ORPIC said. In a separate statement, Chicago Bridge & Iron said that the contract would be worth about $2.8 billion.

Italy's Tecnimont will win a contract for plastics units. Another contract for natural gas liquids extraction facilities went to South Korea's GS Engineering and Construction and Japan's Mitsui & Co. Meanwhile, India's Punj Lloyd secured a contract for a pipeline.