Oman signs contracts for Liwa Plastics industries complex

• Orpic signed more than 15 agreements on 17 December
• The contracts for engineering, procurement and contracting packages were worth a total of $4.5bn
• More than 20 local and international banking and financial institutions and export credit agencies committed to provide $3.8bn

State-owned Oman Oil Refineries & Petroleum Industries Company (Orpic) signed more than 15 agreements to build, operate and finance the Liwa Plastics Industries Complex (LPIC).

• $2.8bn: Steamcracker and utilities: CB&I (Netherlands-based) and CTCI Corporation (Taiwan) joint venture
• $895m: EPC Plastics units: Technimont (Italy)
• Natural gas liquids (NGL) extraction: GS Engineering & Construction (South Korea) and Mitsui (Japan) joint venture
• NGL pipeline: Punj Lloyd (India)

Speaking at the signing event, Orpic chairman Sultan bin Salim al-Habsi said, “This project will enhance the in-country value of products and will provide the necessary materials to grow a downstream sector in the sultanate, with a focus on the plastics industry. [Liwa Plastics] will also enhance the contribution of the industrial sector towards domestic production to 9 per cent by 2020 and will create more than 13,000 new employment opportunities for Omanis.”

 South Korean contractor clinches construction deals in Dubai

• Ssangyong Engineering & Construction (E&C) is part of group awarded three major construction schemes in Dubai
• Client for construction projects is major shareholder in South Korean contractor
• Work will involve building a hotel, apartments and office buildings

South Korean contractor Ssangyong Engineering & Construction (E&C) was awarded contracts worth $730m for projects to build a luxury hotel, apartment towers and office buildings in Dubai.

The Seoul-based Ssangyong E&C is part of a group of contractors, including Belgium’s Besix and China State Construction Engineering Company, that were awarded contracts worth $1.6bn for three major construction schemes in Dubai. Ssangyong’s portion of the construction contracts is worth $730m, according to the South Korean Yonhap news agency.

 Bahrain awards contracts on $655m gas terminal

• GS E&C awarded EPC contract by new consortium
• Facility will have 800 million cubic-feet-a-day capacity
• Bahrain latest of several Middle East countries to go for LNG imports

Bahrain awarded a consortium of three companies the contract to develop a $655m floating liquefied natural gas (LNG) terminal in Bahrain.

US-based Teekay LNG Partners, South Korea’s Samsung C&T and Kuwaiti group Gulf Investment Corporation (GIC) were awarded the contract by Oil and Gas Holding Company (Nogaholding).

The project will be developed on a build, own, operate, transfer (BOOT) basis and is located in the Hidd industrial area of Bahrain.

The companies formed a new joint venture named Bahrain LNG with Nogaholding and Teekay both owning 30 per cent stakes, with respective 20 per cent stakes held by Samsung C&T and GIC.

The development is the first of its kind in the Middle East to be developed on a public-private partnership (PPP) scheme.