Pakistan’s Engro Chemical (ECPL) has signed a Memorandum of Understand (MoU) with the Oman Oil Company (OOC) to establish an ammonia urea fertilizer complex in the Sultanate, reported PPI.
A feasibility study, to be completed by mid-2003, will be conducted to determine construction cost estimates and a financing plan.
The MoU calls for the relocation of an existing ammonia plant to be refurbished with new utilities. The complex will produce 850,000 tons of ammonia urea annually with its output destined for markets abroad.
OOC is fully owned by the government of Oman. Its principle role is to develop gas based industries and downstream energy or energy related projects in Oman in conjunction with local and international investors and to invest in strategic energy projects outside of Oman. The Board of Directors of OOC is comprised of government officials and businessmen. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
