Oman Oil, KPI sign MoU for development of Duqm Refinery and Petrochem Complex
Media reports indicated that OOC and KPI are planning to attract major industrial projects to Duqm.
Both companies’ aim is primarily to make a strategic partnership to own, manage and operate a refinery and then build a petrochemical complex in Duqm, according to the agreement. It is reported that OCC and KPI planned to have 50:50 shares in the joint venture company.
For this project, a 900-hectare area has been assigned to the site and the companies have finished the leveling in accordance with the schedule.
It is expected that the parties will take the final investment decision by Q2 of the next year.
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