Orpic expects to sign EPC contracts and financing agreements by the end of the year while the four EPC packages, worth $4.5bn, are planned to be completed in four years.
The plant is scheduled to be commissioned in 2019.
A joint-venture between CB&I and CTCI has been selected to provide EPC to the Liwa Plastics’ Package 1, which includes steam cracker and other related units.
Orpic selected Tecnimont for EPC Packages 2 involving plastics units. A joint venture between GS Engineering and Construction and Mitsui was selected for EPC Packages 3 comprising natural gas liquids (NGL) extraction.
Additionally, Punj Lloyd has been selected for EPC 4 which includes NGL Pipeline.
Orpic CEO Musab Al Mahruqi said: "The Liwa Plastics Industries Complex Project is not only a nationally significant industrial project, it will be the largest project in the downstream oil and gas industry in Oman.
"We are concluding discussions with Export Credit Agencies, commercial banks and other relevant authorities and we expect to finalize the project funding plan by the end of the year enabling us to award the respective EPC contracts."
Expected to create 450 direct jobs and around 1,200 indirect jobs, the Liwa project will increase polyethylene and polypropylene production of Orpic by one million tons, bringing the overall production by 1.4 million tons by 2018.
Products such as hydrogen, MTBE, pyrolysis fuel oil and PyGas produced from the petrochemical complex will be used to feed the existing refinery, aromatics complex and polypropylene plant at the Sohar Industrial Complex.
