The CDP Group brings Italian technology to Oman

The CDP Group brings Italian technology to Oman

Italian technology comes to Oman to support the construction of the Liwa Plastic Industries Complex. The CDP Group, along with a number of international banks, has provided a credit line of $840 million. SACE guaranteed the full amount; SIMEST has intervened to stabilise the interest rate.

Roma, 30 May 2016

The financing is intended to support the supply contracts awarded by ORPIC, a company controlled by the Omani government that is active in crude oil processing and the petrochemical industry, to Maire Tecnimont, as well as sub-contracts that will be awarded to a number of Italian companies, especially SMEs, that manufacture machinery for oil & gas.

The initiative sees the CDP Group continue its commitment, in its role as National Promotion Institution, to supporting companies that look to international markets.

On completion, the Liwa plant will produce 1.1 tons per year of polypropylene and polyethylene for the global marketplace and will be part of one of the most technologically advanced petrochemical complexes in the world.