Join Webinar

Business News

Orpic’s Liwa project to spur growth of downstream plastics industry

The $6.5 billion Liwa Plastics Industries Complex (LPIC) project, currently under development at Sohar, is well into the detailed engineering phase, with employees deployed at the offices of the Engineering — Procurement —Construction (EPC) contractor in Seoul, Milan, The Hague and New Delhi. Overall project implementation is on track, Orpic said ahead of the ground breaking ceremony scheduled on October 10, 2016. LPIC is the largest of the three strategic growth projects undertaken by Orpic to fulfil its vision of building an Omani integrated refining and petrochemical business.

Upon its commissioning in 2020, the project will transform Orpic’s product mix and business model, double company’s profit, create new business opportunities, generate significant employment opportunities and support the development of a downstream plastics industry in Oman.

Musab al Mahrouqi, Chief Executive Officer, Orpic, said, “We are confident that once our plants are commissioned and completed in 2020, LPIC will change Orpic’s product mix by extracting more value from natural gas and crude oil.

Being located in Sohar as part of an integrated complex that also houses the Sohar Refinery, Aromatics Plant, Polypropylene and Steam Cracker Unit for LPIC, Orpic’s operations will be one of the most integrated refinery and petrochemical operations in the region and will enable the company to extract the maximum value from Oman’s oil and gas.” Last year, Orpic awarded four contracts for Engineering, Procurement and Contracting (EPC) packages worth $4.5 billion for Liwa Plastics Industries Complex (LPIC) Project to:

EPC 1 (Steam Cracker and Utilities): CB&I and CTCI Corporation Joint Venture; EPC 2 (Plastics units): Tecnimont SpA; EPC 3 (NGL Extraction): GS Engineering and Construction and Mitsui & Co Ltd Joint Venture and; EPC 4 (NGL Pipeline): Punj Lloyd Ltd. LPIC is one of three strategic growth projects being delivered by Orpic namely Sohar Refinery Improvement Project (SRIP-2016), Muscat-Sohar Pipeline (MSPP-2017) and Al Jifnain Terminal. These projects will cement Orpic’s position as a market leader in Oman, the Middle East and the international oil and gas sector.

Source Link: omanobserver.om

  • ORPIC
  • LPIC
JSRS Banner
JSRS Banner
POST A COMMENT