In-Country Value (ICV)
In-Country Value (ICV) is the total spend retained in country that can benefit business development, contribute to human capability development and stimulate productivity in Omani economy. Orpic is committed to encouraging ICV initiatives across its operations that support business development, human capability development, and infuse stimulation in the Omani economy through the retention of maximum value in country.
ICV Department Functions
- Authentication (made in Oman) of materials procured by Orpic.
- Development of Human Capital across all Orpic projects.
- Communication of ICV achievements through dashboards to all key stakeholders.
- Sustainable development of Omani Small & Medium Enterprises (SMEs) by supporting those directly linked to Orpic’s businesses.
ICV Department secured 10% of Orpic’s requirements for local SMEs.
ICV SME database is 96.3% complete, with a total of 1412 companies registered.
A total of 50 ICV internal awareness sessions and 100 external awareness sessions planned for each year.
Orpic, Sohar University, and Grace have developed US$ 3.5 million state of the art ‘Material Characterization Labs’ at Sohar University campus.
ICV programme has identified 53 promising investment opportunities for local developers.
The ICV Department received the ‘Best In-Country Added Value Strategy’ Award during the 2016 Annual Award Ceremony for Refineries and Petrochemical Industries in the Middle East.