Orpic to invest $5Bn for new plants in Oman

Musab Al Mahruqi, CEO of Orpic - Oman delivered a presentation during the Polyolefin Plastics Arabia 2013 Conference highlighting its investment plans. In his presentation, he outlined the various projects that Orpic will undertake in the next few years. One of the major projects is Sohar Refinery Upgrade, which is estimated to cost $1.5 billion and it is anticipated to be completed by the year 2016. The benefits expected from this project include improved refining process to cater for heavier crude, improved environmental performance, more fuels produced (70 percent increase), ability to produce bitumen for local market, increased production of polypropylene, and less imports of naphtha as feedstock to aromatics, Mr. Al Mahruqi said.

He also touched upon Sohar Plastics Project, which is expected to be completed in 2018. The project is estimated to cost $3.6 billion, and it attempts to achieve improved refinery and petrochemical integration, optimisation of existing production plants, optimisation of natural gas components, attractive economic returns, and potential for downstream plastics. http:orpic.om