Oman’s state downstream firm Orpic says the four contracts for construction of the 1.1mn tons/year Liwa Plastics project at Sohar will cost a total $4.5bn. The company is now looking to tie up project finance by year-end, but expects the total project cost to be $5.2bn. Commissioning of the plant is scheduled for 2019.
“We are concluding discussions with export credit agencies, commercial banks and other relevant authorities and we expected to finalize the project funding plan by the end of the year, enabling us to award the respective EPC contracts,” says Orpic Chief Executive Musab al-Mahruqi. (CONTINUED - 154 WORDS)