OOC-owned Oxea to build new chemical unit
Conrad Prabhu –
MUSCAT, MARCH 20 –
Oman Oil Company (OOC) owned Oxea, a global manufacturer of oxo intermediates and oxo derivatives, has announced the construction of a major propanol unit adjoining its existing complex in Texas, USA.
The world-scale plant, dubbed ‘Propanol-2’, will boost Oxea’s propanol production capacity by around 100,000 metric tonnes/year, and its propionaldehyde capacity by 40,000 mt/year. Propanol is a key ingredient in the manufacture of a range of products such as adhesives, coatings, printing inks and pharmaceuticals formulations. Propionaldehyde, on the other hand, is used in the production of food preservatives, plasticisers, plastics, rubber chemicals and pharmaceutical.
Oman Oil Company, the wholly Omani government owned energy and strategy investment arm, acquired Oxea in December 2013. The acquisition of what is effectively the world’s second largest producer of oxo intermediates and oxo derivatives catapulted Oman Oil Company into the ranks of the world’s top chemicals producers.
Oxea operates a global network of plants offering a total production capacity of over 1.3 million tonnes per annum of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, speciality esters, and amines. These intermediate products are used in the production of a wide array of products, including paints and coatings, lubricants, cosmetics and pharmaceutical products.
Part of Oman Oil Company’s vision is to utilise the Oxea platform to expand its chemicals portfolio over the coming years to evolve into one of the world’s leading chemicals companies. It seeks to achieve this by leveraging its geographical proximity to competitive raw materials in the region, as well as its location as a gateway to the emerging markets of Asia.
Announcing the start of construction work on the new propanol project, Oxea’s CEO, Salim al Huthaili said: “This capacity increase is another excellent example of our strong commitment to supporting our customers with sufficient and reliable supplies.
To continue as a profitable and sustainable company, we are significantly investing in our production platforms and continuously seeking opportunities to differentiate ourselves. We aim for further expansion of our portfolio and growth in volumes over the coming period,” he added.