Octal Secures Financing for Expansion of PET Complex in Oman

Octal Petrochemicals (Muscat) has secured funding for the second phase of its previously announced polyethylene terephthalate (PET) resin manufacturing complex in Oman. Privately owned Octal commissioned its 400,000 m.t./year polyethylene terephtalate (PET) resins and sheet packaging facility at Salalah, Oman at the beginning of 2009. That project included a 150,000m.t./year PET resin capacity.  The latest funding, extended by six Middle Eastern banks, will help the company build the second phase of the complex. Octal is adding 527,000 m.t./year of capacity...

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