OMAN: Two big petrochem projects in the pipeline for Takamul

The company will set up an ammonia project in Salalah, in partnership with its parent company, with the aim of further processing chemicals from Salalah Methanol Co into value-added products, Gilles Desorbay, general manager - commercial and business development at Takamul Investment told Muscat Daily.

"Takamul Investment and Oman Oil will develop and invest in this project. The shareholding structure is yet to be defined. The FEED phase will be completed in about a year's time. After that, we will have a precise design to invite bids from engineering, procurement and construction (EPC) contractors. The project is valued at several hundred million dollars and an investment decision is likely to be made in early 2015,” Desorbay said.

He added that Takamul Investment also plans to set up a large metaxylene/purified isophthalic acid (PIA) plant in Sohar. Metaxylene is the feedstock for the production of PIA, used as feedstock in the polyester industry.

"The PIA industry is tightly owned with very few suppliers around the world. We would like to see Oman becoming one of those key suppliers for the global polyesters industry. We believe there is a competitive advantage in setting up such a plant in Oman, because feedstock is available from the Orpic refinery in Sohar.

The FEED study for the Sohar plant, which will also involve an investment of several hundred million dollars, will be completed by the end of this year and an investment decision is likely to be made in early 2015.

Desorbay added that the Sohar PIA project will mainly be driven by Takamul Investment, with Orpic likely to be a co-owner in the project.

Source: "Muscat Daily", Muscat; 21 Jan 2014(Syed Rashid Ali, Karachi, Pakistan)