BUSINESS REPORTER
MUSCAT, DEC 15
OQ Base Industries (SFZ) SAOG (OQBI) — a subsidiary of OQ Group — has announced the signing of a long-term Ammonia Offtake Agreement with Deepak Oman Industries LLC (SFZ).
Under the agreement, publicly-traded OQBI will supply ammonia to Deepak Oman Industries for use in value-added chemical manufacturing. The contract spans up to ten years, with an option to extend for an additional three years, ensuring a reliable and sustainable feedstock supply to support Deepak Oman’s operations.
“This agreement underscores OQBI’s commitment to supporting Oman Vision 2040, fostering industrial diversification and promoting value-chain localisation within the Sultanate of Oman’s petrochemical sector”, said Ihsan al Jandal, Chief Operating Officer, OQBI.
“It further demonstrates OQBI’s ongoing efforts to enable sustainable growth, enhance in-country value and strengthen strategic partnerships across Oman’s energy and industrial ecosystem”, he added in a filing to the Muscat Stock Exchange.
Deepak Oman Industries, backed by Deepak Nitrite Limited — one of India’s leading chemical manufacturers — is setting up an integrated chemicals facility at Salalah Free Zone. The plant will produce inorganic chemical products, including calcium chloride and sodium nitrate, using locally available inputs such as ammonia and limestone.
Oman Observer is now on the WhatsApp channel. Click here
