The Middle East region’s first sebacic acid plant will be ready for commissioning by the end of 2017. Sebacic Oman is investing USD62.7 million in a 30,000-tonne-per annum sebacic acid plant located in the Duqm special economic zone.
Shipra Agrichem Private Limited, which operates a 10,000 metric tonne per annum sebacic acid plant in Vadodara, India, and Omani businessman Shaikh Hilal bin Khalid Al Mawali, are the joint venture partners in the project.
“We have completed 40% of the construction work for building the plant in Duqm, which will be a 100% export-oriented unit,” Pradeep Kumar B. Nair, chief executive officer (CEO) of Sebacic Oman, told the Times of Oman.
Nair said that the company plans to float the company’ shares in an initial public offering in 2019. Sebacic Oman will offer 40% of its equity capital on the Muscat Securities Market.
Sebacic acid is a castor oil derivative. Sebacic acid and its homologues, such as azelaic acid, can be used as a monomer for nylon 610, plasticizers, lubricants, hydraulic fluids, cosmetics, candles, etc. Major sebacic acid producing countries include China, Japan, Brazil, India and the UK.