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Oman : $70m Qatar chemical plant deal signed by Oman Chlorine
Publish Date : 14-Jan-2014
Oman Chlorine is to establish a $70m joint venture (JV) chemical plant in Qatar.
The company declared that its Qatar-based sister company Gulf Chlorine WLL signed a contract with a leading specialized international company for engineering, supply and construction of the new plant at the Mesaieed Industrial City in Qatar.
The plant will make caustic soda, acid and other related products, Oman Chlorine said in a filing to the Muscat Securities Market (MSM). Gulf Chlorine WLL is 51% owned by Oman Chlorine.
A senior official of Oman Chlorine said that the JV plant in Qatar is expected to involve an investment of $70m and its capacity will be 70 tonnes per day.
Oman Chlorine's Abu Dhabi-based sister company Union Chlorine LLC in November last year, which is 48.8% owned by Oman Chlorine, also signed a contract for the construction of a similar $70m plant in the ICAD Industrial Zone in Abu Dhabi.
The Volume of the Abu Dhabi plant will also be 70 tonnes per day and it will be functioning by the fourth quarter of 2015. The plant will make caustic soda, acid and other related products.
The official said, "We are capitalising on our relationships with the oil and gas industry in the region. The new plants in Abu Dhabi and Qatar are expected to support the strategic operations of Oman Chlorine in neighbouring markets and expand its existing business with oil and gas service companies operating in the region. "
The new chemical plant in Qatar is anticipated to start trial production in the fourth quarter of 2015.
Oman Chlorine in the sultanate possesses and runs a chloralkali plant in Sohar. The company produces hydrochloric acid, caustic lye and sodium hypochlorite. The company also manufactures value-added products like caustic flakes and calcium chloride.
