$120mln new chemical unit to be set up in Oman

The complex will be constructed in Salalah Free Zone

  

Oman's Deepak Oman Industries Project has laid the foundation for its $120 million integrated chemical complex in Salalah Free Zone.

The project includes the construction of a complex that will produce about 225,000 tonnes per year of chemicals, including calcium chloride and sodium nitrate, as well as locally available raw materials such as ammonia and limestone.

The products will be sold domestically as well as exported to international markets and will be used in sectors such as oil and gas, added the Oman News Agency report.

Deepak Oman Industries is a company owned by Oman National Investment Development Company (Tanmia), which is owned by the State General Reserve Fund; civil and military pension funds; Muscat Overseas; and Deepak Nitrite, which is one of the largest companies in India's chemical industry.

The ceremony was attended by Mohamed bin Salim Al-Toobi, Oman's Minister of Environment and Climate Affairs.

He stressed that the Salalah Free Zone is working to attract foreign investments to contribute to the national economy.

Salalah Free Zone Company continues its efforts to attract foreign direct investments and the zone has achieved an increase in the volume of investments to reach RO2 billion ($5.19 billion).

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