17 June 2019
MUSCAT (WAF): The first cargo of the Polymer manufactured in Oman will be exported to the USA in two weeks, Echo Liu, VP international Business Development at ZL Group Companies told WAF News today.
“But, it is still not very economical”, Liu said on the sidelines of the official inauguration ceremony of the first Polymer manufacturing plant in the GCC. She added that the company is looking into regional opportunities in the GCC.
The first phase of plant is worth $20 million, and spread over 33,000 square meters in the southern Raysut industrial estate in Dhofar. And expansion will be based on the future demand.
Liu said that the reason ZL Group chose Oman to establish the plant is “because of the big future for Omani’s Oil sector”. Yet she says that the main challenge is the financial cost associated with “importing the raw materials from China, Japan and other places”, adding that the developments in Duqm – and the Petrochemicals complex- represents a potential growth opportunity.
“For the next step, we want to bring more technologies for different companies (in Oman) besides PDO”, Liu added. And to facilitate trade opportunities for existing Omani companies with China
Polymer Experts LLC is an Omani-Chinese Joint Venture (JV) between ZL EOR Chemicals Ltd. with a 60% stake and local investors holding a 40% stake developing the first Polymer manufacturing plant in the GCC.
The company’s main client in Oman is Petroleum Development Oman (PDO) who has been importing the (Polyacrylic) Polymer from China to use in Enhanced Oil Recovery projects.