Sohar Petrochemicals (SOHARPET) has signed a strategic agreement with OQ for the development of its plastics industry project in Sohar, with a total investment of approximately OMR 192 million.
The project will focus on the production of Purified Terephthalic Acid (PTA) and Polyethylene Terephthalate (PET), which are essential raw materials for the packaging industry. It represents a significant step toward strengthening Oman’s downstream industrial capabilities and expanding local manufacturing.
By utilizing locally available feedstock, the project aims to convert raw materials into higher-value products within the Sultanate, supporting the national objective of maximizing in-country value and enhancing industrial integration.
The SOHARPET project is expected to contribute to job creation, development of technical expertise, and reinforcement of Sohar’s position as a key hub for petrochemical and advanced manufacturing industries.
This agreement reflects SOHARPET’s commitment to supporting Oman Vision 2040 and advancing sustainable economic growth through strategic industrial investments.
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