A Dalian-based company plans to build a petrochemical project with total investment of about $2.8 billion at a China-Oman industrial park in Oman.
Dalian Mingyuan Holdings Group Co Ltd has signed an investment agreement with the Duqm Special Economic Zone to build a 10 million-ton project to manufacture olefin with methanol.
The first phase of the project is expected to invest about $2.8 billion and generate 1.8 million tons of olefin annually. The annual production value could reach $919 million. Located in the middle region of Oman, the Duqm Special Economic Zone covers an area of 2,000 square kilometers. It is positioned by the government to be a free trade zone, enjoying favorable policies in tax, foreign investors' access, factors relating to production prices, trade facilitation, and other competitive advantages.
