Tecnimont bags Orpic’s $895 mn EPC contract in Oman

Tecnimont bags Orpic’s $895 mn EPC contract in Oman

6:11 AM, 21st December 2015
Tecnimont bags Orpic’s $895 mn EPC contract in Oman
Pierroberto Folgiero, CEO, Maire Tecnimont. (File photo)

MILAN, ITALY: Maire Tecnimont SpA said that its subsidiary Tecnimont SpA has been awarded an engineering procurement construction (EPC) contract for realization of a polyethylene (HDPE/LLDPE) and polypropylene plant (PP) for approx $895 million by Oman Oil Refineries and Petroleum Industries Company SAOC (Orpic).

The start date is envisaged by March 2016 while the completion of the scope of work is expected in the fourth quarter of 2019.

This contract is one of the four packages forming the Liwa Plastic Industries Complex (LPIC) project.

In order to finance the $6.4 billion-LPIC complex, a credit line equal to $890 million is being currently finalized, disbursed by Cassa Depositi e Prestiti (CDP) and some commercial banks and fully guaranteed by Italian export credit company SACE.

The polyethylene and polypropylene units will be located in the Sohar Industrial Port Area, Sultanate of Oman and will be developed on the basis of PE univation technologies and PP Basell poliolefine technology.

Orpic is Oman’s national refining and petrochemicals company and provides fuel, chemicals and feedstock domestically and worldwide.

The project’s scope of work envisages the polyethylene plant consisting of two “swing” units with a capacity of 880,000 tonne per year (t/y) of high density polyethylene (HDPE) and linear low density polyethylene (LLDPE);the polypropylene plant (PP) with a capacity of 300,000 t/y.

This first award in Oman enables Maire Tecnimont Group to expand its industrial footprint in the GCC region. This prestigious reference will also best position Maire Tecnimont in the Omani market, which is characterized by very promising growth prospects in the hydrocarbon processing value chain.

“We feel honoured to contribute to Oman’s industrial development with such a strategic initiative, enabling the country to produce polyethylene for the first time, which rates highest in the world in terms of global demand. This contract awarded to us by Orpic is sound evidence of our historical excellence in polyolefins,” said Pierroberto Folgiero, CEO, Maire Tecnimont.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Eni in talks to sell Versalis

SAN DONATO MILANESE, ITALY: Eni SpA said that it is in talks to sell majority stake in its Versalis chemicals business part of the company’s pla ...

Read more
Recyclable polyurethane foam project wins $10k Dow SISCA prize

MINNEAPOLIS, US: A project aimed at developing polyurethane foam that can be recycled has won the Dow Sustainability Innovation Student Challenge Awar ...

Read more
Sealed Air acquires lubrication technology firm Dry Lube

CHARLOTTE, US: Sealed Air Corporation said that it has acquired Dry Lube Ltd (DL) and its subsidiary Dry Lube Inc, a specialized, water-free conveyor ...

Read more
CB&I bags $1.3 billion ethane cracker project contract in US

THE WOODLANDS, US: Chicago Bridge & Iron Company NV (CB&I)said that it has been awarded a contract valued in excess of $1.3 billion by LACC LL ...

Read more
Evonik, Graz Uni develop biocatalytic route for hydrocarbon compounds

ESSEN, GERMANY: Researchers at Evonik Industries, in cooperation with scientists from Graz University, have discovered a biocatalytic access to 1-alke ...

Read more
Axiall, Lotte finalize Louisiana ethane cracker investment

ATLANTA, US/SEOUL, SOUTH KOREA: Axiall Corporation said that it has reached a final investment decision with Lotte Chemical Corporation, to construct ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X