OCTAL, a global leader in the packaging industry, has tripled its annual production capacity of PET resin used for water, juice and soft drink bottles this month with the commissioning of two of the world’s largest vertical reactors at the company’s leading-edge PET Complex in Salalah. With a total system output of 1 million metric tons per year of PET bottle grade resin, OCTAL has firmly secured its stature in the industry as the largest PET producing site in the world at any single location.
“This milestone is nothing short of incredible,” said Chairman Sheikh Saad Suhail Bahwan. “What we have previously been able to produce in three years can now be achieved in only one, giving us a stronger competitive advantage to serve the growing demand for high quality and performing PET resin and sheet in emerging and transitional economies.”
With the global packaging industry poised to reach US$ 820 billion by 2016, Sheikh Bahwan said, “We are building for the future and are confident that PET will continue to register strong demand given its unmatched mechanical and optical properties. This is driven by rising need for lightweight, functional, user friendly and environmentally responsible packaging.”
Sheikh Bahwan went on to say that the company is now half way through its investment plan with additional capacity scheduled for 2015 and 2016. When complete, the site will manufacture a total of 2.5 Million Tons per annum of PET and PTA. He said that it is a great source of pride and accomplishment for OCTAL and Oman as a nation to have made such great strides in only four years.
OCTAL supplies more than 60 countries across the Middle East, Europe, America and Africa with its PET resin that boast the lowest carbon footprint. Starting this month, the company will generate US$ 100 Million in monthly exports which represent approximately 2% of Oman’s GDP. OCTAL’s groundbreaking material science technology continues to attract an impressive roster of customers from thermoformers to brands, retailers and merchandizers including Walmart, Coca-Cola, Nestlé, Unilever, P&G and Almarai to name a few.
Through the application of pioneering technology, OCTAL has set the global benchmark not only in superior product quality and sustainability, but also in productivity and cost efficiency.