The move is understood to have been prompted by escalating project costs, which were originally estimated at $2,000 million-2,300 million. The scheme calls for the construction of an ethane cracker with capacity of just under 1 million tonnes a year, three polyethylene (PE) and two polypropylene (PP) units, a gas treatment plant and a natural gas liquids (NGL) fractionation plant.

The US’ Fluor Corporation is the project manager; BNP Paribas is acting as financial adviser. OPIC is a joint venture of the government, Oman Oil Company and the US’ Dow Chemical Company (MEED 29:7:05).