OMAN: Joint venture construction contract award for planned $840,000,000 oil refinery is said to...

PROJECT OVERVIEW:

A Japanese joint venture was recently declared to be the low bidder for the construction of a new oil refinery in Oman. The preferred bidders reportedly submitted a proposal of $840,000,000 while all the others proposed building the plant at a cost exceeding $1,000,000,000.

The partners in the tentative contract include JGC CORP. and CHIYODA CORP. Construction plans under consideration call for building a complex with an installed capacity of 75,000 barrels per day. The planned facility is to be sited in the northern city of Sohar.