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RIYADH: Oman’s OQ, Public Establishment for Industrial Estates, and Industrial Innovation Academy are on track to launch a plastics park in the country. 

In addition, contractors have submitted bids for a large package for an Iraq-based refinery upgrade project. 

Meanwhile, ¶¶Òõ¶ÌÊÓƵ’s Diriyah Gate Development Authority has signed an agreement with the Oil Sustainability Programme to use sustainable polymer materials in all its future projects.

In depth

• The national petroleum investment company of Oman, OQ, together with the Public Establishment for Industrial Estates, and Industrial Innovation Academy have signed a memorandum of understanding to develop a plastics park in Sohar Industrial Estate, MEED reported. The agreement falls in line with the Middle Eastern country’s Vision 2040 which aims to achieve a competitive, diversified, and integrated economy.  
• Contractors have submitted bids for the $200 million mechanical and engineering package for the Basrah refinery upgrade project in Iraq, MEED reported. The project – which will be handled by Iraq’s South Refineries Company – has an estimated worth amounting to $4.76 billion. 
•  ¶¶Òõ¶ÌÊÓƵ’s Diriyah Gate Development Authority has signed a memorandum of understanding with the Oil Sustainability Programme to integrate the usage of sustainable polymer materials in all its upcoming projects, Trade Arabia reported. Under the agreement, both parties will work together to provide the needed technical and logistic support with other entities in the field.