Duqm, a port town on the Arabian Sea, located in the central-eastern part of Oman, will be the site of a 100,000-tonne sebacic acid complex that will be on stream by 2017.
Agreements for land use and financing of the projects were signed in the presence of the Chairman of the Duqm Special Economic Zone Authority, HE Yahaya Bin Said Al Jabri, and Indian Ambassador HE JS Mukul on 10 May.
The USD 62.7 million project will be funded by Meethaq, the Islamic banking window of Bank Muscat, which was represented by General Manager Sulaiman Al Harthi during the signing of the letters of finance offer.
Sebacic acid is a castor oil derivative. In the industrial setting, 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.
Alongside the sebacic acid complex project is a project to cultivate 66,000 acres of castor, under a total buyback agreement by the project promoter, Pradeep Nair.