A $62.7 million sebacic acid production plant, the first-of-its-kind in Oman, is set to be built in the Duqm Special Economic Zone, according to a report.

An usufruct agreement was signed for the establishment of the facility by the Special Economic Zone Authority at Duqm’s (Sezad) chairman Yahya bin Said bin Abdullah Al Jabri and representatives of the Sebacic Oman Company, said the Times of Oman report.

The plant, covering 400,000 sq m of land, will extract sebacic acid from castor oil to be used in a wide range of chemical industries including plastics and pharmaceuticals, it said.

Meanwhile, the plant will create 450 employment opportunities in its first phase, said the report.

The second phase, which is expected to begin during the next five year, will see an investment of around $250 million and a generation of 250 jobs, it added.