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FinancialNews
21-07-19
SFZ snatches usufruct pact for USD2.5b refinery project
(MENAFN) Salalah Free Zone (SFZ) is stepping up its efforts for the establishment of its USD2.5 billion refinery project through a new usufruct deal.
SFZ chief executive Ali bin Mohammed Tabuk made the announcement following the signing of the agreement with CEO of Salalah Refinery Kent J Kabi.
Muscat Daily reported that the planned refinery is estimated to present an output capacity reaching 150,000 barrels per day once established.
Oman was able to secure eleven usufruct agreements since the beginning of this year in a range of areas with carbonated beverages, food industries, and solar panels among them.
Tabuk confirmed that the refinery project is expected to open 600 jobs, and is to help the national economy achieve growth.
MENAFN2107201900450000ID1098782788
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