Oman Invests in Chemicals Projects, an Industrial Info Market Brief

Oman has a much-diversified economy, unlike its neighboring countries, which are largely dependent on oil and mineral resources. The country also has significant oil and gas reserves and is a leading non-OPEC oil exporter in the region. However, Oman continues to pursue its economic diversification by making huge investments in the chemical and petrochemical industry. Industrial info is tracking 28 capital chemicals projects worth more than $12 billion in Oman. Click here for a list of projects. A major portion of the investment ($5.5 billion) is planned to be spent for 12 petrochemical projects, followed by the plastic/rubber sector, which has six projects valued at $3 billion. See graph for a breakdown by sector.