Middle East Economic Survey
VOL. LIV
No 4
24-Jan-2011
oman
Octal Secures $296Mn For PET Expansion
Octal Petrochemicals announced on 17 January that it had received OR114mn ($296mn) from six Gulf banks for the next phase of its expansion. Phase two of the complex, which is slated for commissioning in June next year, will add an additional 527,000 tons/year of polyethylene terephthalate (PET) production capacity, making Octal the worlds largest producer of PET resins on one site and the...
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