Gulf International Pipe Industry (“GIPI” or
“the Company”) was established as a Limited
Liability Company in the Sultanate of Oman
in January 2007. GIPI is the first
high-pressure steel pipe mill in
the Sultanate of Oman. It is also the
first pipe mill in the Middle East to
produce 24” HFW high-pressure pipes. The
establishment of the pipe mill is in line
with the strategic aspirations of the
Sultanate of Oman to reduce dependency on
import of finished products needed to
service Oman’s strategic oil and gas sector.
Plant construction gained momentum in April
2008 following a groundbreaking ceremony
attended by over 180 local and international
dignitaries. Construction and Machine
installation was completed in November 2009 and Production for the
first phase started in January
2010.
The shareholders of GIPI are as follows
Shareholder
|
%
shareholding |
Oman Investment Corporation (S.A.O.C) |
30% |
Golden
Dunes Investments LLC (GDI) |
30% |
Gulf
Investment Corporation (GIC) |
20%
|
Posco
Steel & Sales Service CO. LTD (POSTEEL)
Korea |
15%
|
Arkan |
5%
|
 |
Golden Dunes Investment LLC (GDI) was
established to represent the founder members
who possess a combined total of over 60
years experience in the Oil and Gas
Industry. The founders successfully engaged
local, regional and international Partners
of excellent repute to participate in the
project with combined strengths and
synergies in all aspects of the product
value chain.
Oman Investment Corporation (OIC) is a
private equity investment company whose
principal activities include identifying,
evaluating and executing productive
investments in viable projects within the
Sultanate of Oman. OIC’s shareholders are
Gulf Investment Corporation (50%), the
Government of Oman (10%), National
Investment Funds Company (35%), and
BankMuscat (5%).
GIC was established in 1983 and is equally
owned by the six member states of the GCC.
GIC provides a range of financial services
that support the development of private enterprise
and economic growth in the region. It is one
of the most highly capitalized financial institutions
in the region. As at end 2006, GIC had total
assets in excess of $8.1 billion and shareholders
equity of about $1.9 billion.
POSTEEL
was established in 1994 as a fully owned subsidiary
and sales arm of POSCO, which is the world’s
3rd largest steel maker producing 31 million
tones of steel products in 2006. The turnover
of POSTEEL in 2006 was $1.45 billion. POSTEEL
has 17 overseas affiliates that are mostly
steel processing centers in China and South
East Asia.
ARKAN ,a reputed local entity
