PE Oman project still on course - Dow

13 December 2007 10:06  [Source: ICIS news]

DUBAI (ICIS news)--Dow Chemical said its joint venture polyethylene (PE) project in Oman was still running on course, a senior company source said on Thursday.

 

The senior company source was speaking on the sidelines at the 2nd Gulf Petrochemicals and Chemicals Association (GPCA) Forum which ends on 13 December.

 

The US chemical giant said it remained committed to the Oman Petrochemicals Industries Co (OPIC) joint venture cracker and PE project, despite delays due to escalating engineering, procurement and construction costs.

 

“The project is still on its course for us. We are not backing out,” said the source.

 

The facility was originally scheduled to start up in 2009, but may be delayed to another year or two.

 

Dow's CEO, Andrew Liveris has said earlier this year that the project was delayed, not cancelled.

 

Dow holds a 50% stake in OPIC, while the Oman government and Oman Oil Co each hold a 25% share.

By: Nurul Darni
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