Oman Chlorine plans $70m JV in Abu Dhabi
Abu Dhabi, November 12, 2013
Oman Chlorine is setting up a $70 million chlorine-alkali plant in Abu Dhabi to cater to the oil and gas sector in the Gulf, its managing director said on Tuesday.
Union Chlorine, a joint venture between Oman Chlorine and Abu Dhabi-based private firm Horizon Energy, would produce 70 tonnes per day of caustic soda, hydrochloric acid and sodium hypochlorite. The plant would begin commercial production in the third quarter of 2015.
"It is the natural second step for the company to expand outside Oman. There is a lot of drilling activity going on in the region," Walid Azhari told reporters. He did not detail how the project would be financed.
Muscat-listed Oman Chlorine, set up in 2000, at present caters mainly to its domestic market. It produces 45 tonnes per day of caustic soda and acids, and also has a joint venture in Qatar called Gulf Chlorine. – Reuters