Japanese venture to build Oman’s second oil refinery
A consortium grouping two major Japanese corporations, JGC and Chiyoda, has recently won a $879 million contract, providing for the construction of Oman’s second oil refinery, in the sultanate's northeastern tip.
With a production capacity of 75,000 barrels of oil per day (bpd) and 350,000 metric tons of propylene per year, the new facility is scheduled to go on stream by mid-2006. The refinery will initially designate 90 percent of its output towards export.
The JGC-Chiyoda joint venture had outbid South Korea's LG Engineering and Hyundai Engineering, SINOPEC of China, the US-based Foster Wheeler Corp, a French-Korean consortium of Technip and Samsung Engineering and a German-Korean consortium of MG and SK Engineering. — (menareport.com)
© 2003 Mena Report (www.menareport.com)