Eric Watkins
Senior Correspondent
LOS ANGELES, July 19 -- South Korea's LG International Corp. (LGI) will invest $60 million for a 20% stake in the $300 million Aromatics Oman LLC, a joint venture planning paraxylene and benzene plants in Oman's Sohar industrial complex. Oman Oil Co. will hold 60% of the venture, Oman Refinery Co. 20%.
Aromatics Oman plans to bring 800,000 tonnes/year of paraxylene and 200,000 tonnes/year of benzene capacity on stream in 2008.
Contact Eric Watkins at [email protected].