The aromatics complex project of Shangdao Lidong Chemicals Company, in which Oman Oil Company (OOC) holds 30 per cent stake, was inaugurated at Shangdao City in the Chinese province of Shandong.

In a statement, Minister of National Economy Ahmed bin Abdulnabi Macki underlined the Sultanate’’s keenness to attract foreign investments and diversify sources of income in Oman.
He said the project was a new addition to the Omani economy and an asset for the state’’s public finance as China witnesses the fastest economic growth in the world.
He further said that the aromatics complex project in China is a milestone project due to the industrial and commercial developments.
The raw materials produced by this project will be incorporated in several plastic industries and fibres which will meet the Chinese market’’s growing needs.
Minister of Commerce and Industry Maqbool bin Ali Sultan, in his speech, said that the aromatics complex project is one of the Oman Oil Company’s (OOC) important projects, which would enable it access the Chinese markets and engage in other economic activities whether oil or gas related projects.
The OOC also holds a stake in the Chinese gas company which operates in more than 50 cities in China.
The two officials also toured the project and familiarised themselves with Shangdao Luxing Company Ltd, the first of its kind in the province which would cater for oil and gas shipping operations in this part of China.
OOC holds 30 per cent stake in the project. The marine dock is designed to receive 2000-85,000 tonnes commercial vessels loaded with oil and gas derivatives.
Shangdao Lidong Chemicals Company’’s project is an Omani-Chinese-Korean investment.
OOC holds 30 per cent stake, GS Aromatics of Korea 60 per cent and Shandodao Chemicals Red Star of China owns 10 per cent stake.
The Shangdao Lidong Chemicals Company is located in Lidong region in the city of Shangdao in Shangdao province and occupies 300,000 square metres.
The project commenced actual production in December 2006. It produces about 700,000 tonnes of the Bazlin substances.
It also produces 240,000 tonnes of benzene annually which is used in the manufacture of isolating materials and pharmaceuticals.
It also produces 160,000 tonnes annually Toli substances used in manufacture of paints and adhesive materials.