Neither Dow nor OOC would give any further details on the scope and cost of the project. However, past indications have been of a $2,000 million plant with capacity of about 900,000 tonnes a year (t/y), comprising an ethane cracker and three downstream units producing low-density polyethylene (LDPE), high-density polyethylene (HDPE) and linear low-density polyethylene (LLDPE). Construction is scheduled to begin in 2005. BNP Paribasis acting as financial adviser (MEED 9:4:04).

The shareholders’ agreement follows hard on the heels of an agreement by Kuwait’s Gulf Investment Corporationto take a 20 per cent stake in the Oman Polypropyleneventure, also at Sohar, replacing US-based ABB Lummus Global. The other shareholders are OOC, with 60 per cent, and South Korea’s LG International(MEED 2:7:04).