The Oman Oil Company (OOC), a government-owned company whose purpose is to make strategic investments in the energy industry outside Oman and to assist in establishing a diversified energy-based industry by developing gas-based and downstream and midstream projects has presented a number of mega-proposal that it intends pursuing.
Chief among them us a 5,000-ton per day methanol plant at Sohar, which will be built as a joint with Omzest, a leading Omani business group, and the German engineering firm, Ferrostaal, reported the Oman Daily Observer..
The methanol project is estimated to cost $426 million and it will come on stream during the first quarter of 2005.
Other projects planned by OOC include an aluminium smelter, a silicon project, a ferrochrome and ferrosilicon complex, a new fertiliser-urea plant, and the proposed Sohar Refinery.
The aluminium smelter project is also planned for Sohar, and it will be produced in cooperation with with the Abu Dhabi Water & Electricity Authority (ADWEA). Costing an estimated $2.5 billion, the joint venture partners are currently discussing its creation with Dubai Aluminium (Dubal) and other parties. Metal production is expected to begin in January 2004.
The Oman-Indian Fertilizer Company (OMIFCO), which is a 50:50 joint venture between OOC and Kribhco and Iffco, two Indian fertilizer co-operatives, will oversee the construction of a world-scale ammonia/urea fertilizer manufacturing facility at an estimated cost of $1 billion.
OOC is also creating a 75,000-barrel-per-day refinery at Sohar utilising the heavy residue produced at the Mina al Fahal refinery. A range poof products will produced at the refinery, propylene that will be used as feedstock for another OOC initiative — the300 million ton per annum Sohar Polypropylene project. – (Albawaba-MEBG)