Octal Petrochemicals, a major producer of polyethylene terephthalate (PET) bottle resin at Salalah, Oman, has announced plans for a $20-million project in Saudi Arabia to manufacture PET cups and trays for the dairy and poultry industries. The company says the project will generate annual revenues of $70 million. Octal will hold 100% in the venture, which is at an advanced stage of planning. The company will export PET sheet from Salalah to the new facility, due online toward the end of this year. Octal in December 2013 completed construction of the second phase...
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