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OQ Base Industries (OQBI) has signed a long-term ammonia offtake agreement with Deepak Oman Industries for use in value-added chemical manufacturing.
The contract spans up to 10 years with a three-year extension option, the company said in a statement to the Muscat stock exchange.
The deal will ensure a reliable and sustainable feedstock supply to support Deepak Oman’s operations, the statement added.
No financial details were shared.
In October, OQBI approved the distribution of cash dividends amounting to OMR 17.2 million for the first half of 2025, equivalent to 5 baisas per share.
(Writing by P Deol; Editing by Anoop Menon)
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