The government of Oman, Oman Oil Company SAOC (OOC) and the Dow Chemical Company have announced an agreement to form a joint venture that will design, build and operate a petrochemical complex in Oman. The joint venture will be owned 50% by Dow, 25% by the government of Oman and 25% by OOC. Located in the Sohar Industrial Port Area, the petrochemical complex will comprise feedstock production facilities, a gas cracker, as well as three world-scale polyethylene production units based on catalyst and process technology. Further, the joint venture will facilitate the development of downstream industries in Oman that will convert polyethylene to end-products in Oman. Construction of the petrochemical complex is expected to begin in 2005.
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