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Oman-Synergy Petroleum-Betanie JV to set up starch and derivatives plant in Sumail  Join our daily free Newsletter

MENAFN - Muscat Daily - 25/09/2012

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(MENAFN - Muscat Daily) Synergy Petroleum International (SPI), an Oman-based Al Taher Group company, has signed a joint venture (JV) agreement with the Netherlands-based Betanie BV International to establish a starch and derivatives manufacturing facility in Sumail Industrial Estate.Starch and derivatives are chemicals widely used in drilling processes in the oil and gas sector.A JV company named Nasha Oman LCC has been established to set up the plant and sell its products in local and regional markets.Ahmed el Sharkawy, head of business development at Nasha Oman, said that the plant is currently under construction and will start commercial operations within the next six months.He said, ''SPI is investing RO4.5mn in the plant. First we will start supplying chemicals to oil and gas sector companies in Oman and in the GCC. The capacity of plant will be 40,000 tonnes per year.''Sharkawy said that SPI holds a majority stake in the JV company. Betaine BV Internationalwill provide the essential technical support and raw materials from its facilities in the Netherlands and Thailand to the plant in Sumail.''This plant will be the first-of-its-kind in Oman and the second such in the GCC. Oil and gas sector companies have been importing drilling chemicals from other countries so far. These chemicals are used as a major element in drilling processes. This will be the first factory in the Sumail Industrial area,'' he added.The JV company also aims to serve specialised industries such as aqua culture and mining. An annex of the plant will produce fish feed.Nasha Oman's first warehouse will be set up in Muscat and additional warehouses are planned in countries to where the company will sell its products.SPI specialises as an EPC contractor in the oil and gas sector. The company has invested in many local ventures in the past three years. The most recent of these ventures is a manufacturing facility in Sumail for insulated tubings " a first in the Middle East.Betanie is a world leader in the field of industrial starch manufacturing. It has a manufacturing facility in Thailand and produces the full range of starch products required by the oil and gas, paper manufacturing, adhesives, paint and construction sectors.Nasha Oman's target markets will be Oman, UAE, Saudi Arabia, Azerbaijan, Kazakhstan, Iraq and Kuwait.

 






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