Oman to Invest US$18 Billion in Green Chemical Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--A number of major industrial players are rapidly accelerating their investments in Oman's Chemical Processing Industry, as the Middle Eastern nation seeks to diversify the industry's output and bolster its national GDP. Developers are looking to hydrogen, particularly green hydrogen, as a means of producing electricity, fertilizers and other essentials.

Oman aims to become one of the world's leading green hydrogen hubs. Several green energy projects have been announced by state-owned oil company OQ (Muscat, Oman) and other partners, in collaboration with international majors such as ACME Group (Gurugram, India), Scatec ASA (Norway), Shell plc (NYSE:SHEL) (London, England), InterContinental Energy (South Perth, Australia) and EnerTech Holding (Kuwait). OQ is a globally integrated energy company and the biggest and one of the most important investors in Oman.

Industrial Info is tracking 22 capital-spending projects for green chemicals in Oman, totaling more than US$18 billion in value. Most of these projects are likely to kick off by the first quarter of 2024, with a total value of about US$5.7 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed project reports, and can click here for a list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).