OCTAL, one of the world’s largest polyethylene terephthalate (PET) producers and a global leader in the packaging industry, has surpassed the $3 billion mark in sales, a record in its six-year history. The company also set new benchmarks, recording its highest quarter production volume of PET in the first quarter of 2014, with March 2014 being its second best month ever of PET production volumes.
OCTAL says the latest capacity expansion of its state-of-the-art PET Complex in Salalah, Oman, has increased its production of bottle-grade PET resin by 40%, with a monthly run-rate of $100 million. The company accounts for approximately 15% of Oman’s non-oil exports, which equates to about 1.5% of the national gross domestic product (GDP).