Omani investors in collaboration with an Indian entrepreneur plan to set up the world’s biggest plant for Sebacic acid in the Duqm free zone, a report said.
The work on the state-of-the-art export-oriented project with a capital expenditure of $62.7 million had already kicked off last month, said the Times of Oman report.
Sebacic acid is used for making high performance engine oil and lubricants, adhesives, engine coolants, bio-degradable packaging, sub-sea pipe/cable coatings, aerospace polymers, anti-corrosion applications and bio-plastics, is manufactured from castor oil (vegetable oil), it added.
Sebacic Oman’s CEO Pradeepkumar B Nair said that the project has the capacity to produce 30,000 tonnes of Sebacic acid per annum.
He also added that they have started construction and it will take one-and-a-half years to complete the project.
He noted that this is the first project to manufacture Sebacic acid in the entire Middle East and North Africa (Mena) region.
Nair added that the entire production will be exported to Europe, US, China and Japan.
The company has already acquired 40 hectares of land and an adjacent coastline of 640 metres, said the report.
He added that the tax-free incentives of the Oman government in Duqm and important port connectivity, were considered before locating the project.
Source : tradearabia.com