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OCTAL secures US$296m in new expansion phase

January 19/2011

(Arabian Oil and Gas) -- Global PET packaging specialist OCTAL is on track to complete the second phase of its operational expansion this year following a new round of funding from six Middle Eastern banks, it has been learned.

The privately owned, Oman-based manufacturer opened a 400,000 metric tonne (m/t) PET resins and sheet packaging facility in the southeast port city of Salalah in January 2009.

Phase two of the complex, which will be commissioned from June 2012, will add an additional 527,000 m/t of production capacity, making OCTAL the worlds largest producer of PET resins on one site and the largest PET manufacturer in the world, the company claims.


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