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Oman Business News

Oman Oil-owned Oxea to set up new chemical plant in Germany

Global chemical giant Oxea, a wholly owned subsidiary of Oman Oil Company SAOC - the strategic energy investment vehicle of the Omani government - has announced plans to set up a new chemical plant at its Monheim am Rhein complex in Germany.

The new project - a partnership between Oxea and a German investor - will be dedicated to the production of dioctyl terephthalate (DOTP), an environmentally safe, general purpose plasticiser used as an alternative to potentially harmful phthalate plasticisers. DOTP will be the latest addition to Oxea's expanding product offerings in Europe.

Germany-headquartered Oxea is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavourings and fragrances, printing inks and plastics.

The new 60,000 metric tonnes per annum plant is due to come into operation in 2019, the company said in a statement. DOTP is used in a wide range of applications such as construction, automotive, coatings and floorings.

"As most DOTP in Europe is currently being imported, our project will make Oxea the major supplier of DOTP in Europe," said Oxea CEO Dr Salim al Huthaili. "We will be able to sustainably meet our customer's current and future needs for this important non-ortho-phthalate plasticiser, and can further improve delivery reliability."

The industry's switch to non-phthalate plasticisers stems from growing concerns over the potential health risks posed by the use of endocrine disrupting chemicals in food utensils, containers, packaging and toys, say experts.

Oxea, which was acquired by Oman Oil Company in December 2013, operates a global network of plants offering a total production capacity of over 1.3 million tonnes per annum of oxo intermediates and oxo derivatives.

Oman Oil Company's longer-term vision behind the acquisition of Oxea is to utilise the chemical giant's platform to expand its chemicals portfolio and evolve into one of the world's leading chemicals companies. It seeks to achieve this by leveraging its geographical proximity to competitive raw materials in the region, as well as its location as a gateway to the emerging markets of Asia.
  • Oxea
  • Oman Oil Company
  • Dioctyl Terepthalate DOTP
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