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...