An agreement to acquire 30 per cent share by Oman Oil Company in GS Group to invest in Qingdao Lidong Chemical Co. Ltd, China. was inked on behalf of OOC by Ahmed bin Abdulnabi Macki, minister of national economy and deputy chairman of the Financial Affairs and Energy Resources Council along with Eng. Ahmed bin Salim Al Wahaibi, chief executive officer of Oman Oil Company, and on behalf of GS Group, by Dr Hur, the chairman in a ceremony in Seoul attended by Moosa bin Hamdan Al Taei, Sultanate's ambassador to South Korea,
China has maintained eight per cent GDP growth since 1978 and with a growing economy has become an important player in the world economy and with a capacity to meet the economic demands for the ancillary products of the plant.
The capacity of the petrochemical plant is 700k tons of paraxylene, 250k tons of benzene, 150k tons of toluene and 113k tons of raffinate per year. A GS Group refinery in Qingdao province in petrochemical investment zone having tax exemption,will provide the feedstock.It is near Korea having feedstock source.
The revised shareholding in Qingdao Lidong Chemical Co. Ltd, after OOC's entrance will be LG Aromatics 60 per cent, OOC 30 per cent and Red Star Chemical Group Ltd 10 per cent. This new investment shall contribute to the financial and economic growth in the Sultanate. This was the second such investment for OOC in the People's Republic of China.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
