08 April 1996 00:00 [Source: ACN]
THREE Indian companies will set up a US$900m fertiliser complex in Oman. The gas-based complex will consist of two ammonia trains with a total capacity of 3500 tonne/day (1.16m tonne/year) capacity, and two urea trains producing a total of 4500 tonne/day. The complex will be sited in Sur, about 200 km south of Muscat.
Oman Oil will have a 50% stake in the project, with the rest to be shared equally between Krishak Bharati Co-operative and Rashtriya Chemicals and Fertilisers. The three partners will each contribute US$250m to finance the project. The remaining cost will be funded by loans.
The entire urea production will be purchased by India at prevailing international prices. The price of gas feedstock appears to be finalised at 50 cent/mBTU after almost a year of negotiation.
A detailed feasibility report has been prepared by James Chemicals Engineering of the US. Three consortia led respectively by Kellogg, Snamprogetti and Uhde are bidding for the turnkey engineering, procurement and construction contract.
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