OMAN: Ompet Inks Deal for land in Sohar as site for new PTA, PET project

Ompet, a joint venture of Oman Oil Co. (50 %), LG Corp. (30 %) and Takamul Investment Co. (20 %), will have the capacity to produce 1.1-million t/y of PTA to be used as feedstock for the production of 250,000 t/y of PET. Earlier reports said the project would produce 500,000 t/y of PET and be built in two phases.

The Ompet plant will be built adjacent to Oman Oil Refineries and Petroleum Industries Co. (Orpic) and will utilize all of the paraxylene produced by Orpic. Operations are expected to begin in 2016.

Source: Weekly "PetroChemical News", Durham, NC, USA; 15 Dec 2014
(Syed Rashid Ali, Karachi, Pakistan)