Octal Petrochemicals starts polyethylene terephthalate manufacturing facility in Saudi Arabia

Octal to manufacture PET cups, trays in Saudi Arabia

5:02 AM, 12th February 2014
Octal Petrochemicals starts polyethylene terephthalate manufacturing facility in Saudi Arabia

MUSCAT, OMAN: Octal Petrochemicals is setting up a project in Saudi Arabia to manufacture polyethylene terephthalate (PET) dairy cups and trays for dairy and poultry industries. Octal Petrochemicals will be investing $20 million for the downstream project, which will generate $70 million revenue per annum, once it goes on stream.

“We are in an advanced stage to implement the project. We have already formed the company and have recently leased the land. Orders have been placed for equipment. Our main base of operations is in Oman and Saudi will be a downstream project for a specific segment, which is dairy segment. The project is a downstream venture to our Salalah project. The main raw material (PET sheets) for the Saudi project will be exported from Salalah,” said Geroge Freiji, Manager (Corporate Development), Octal.


© Times of Oman News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Solvay opens research & innovation centre in Singapore

BRUSSELS, BELGIUM: Solvay opened a new Research & Innovation centre in Singapore, which will be the Group’s core innovation ground for its C ...

Read more
Brenntag appoints new managing director for mergers & acquisitions, Gerace

MULHEIM AN DER RUHR, GERMANY: Brenntag, the global market leader in chemical distribution, has promoted Anthony Gerace as Managing Director Mergers &a ...

Read more
Borealis to supply ethane to Statoil’s steam cracker in Sweden

VIENNA, AUSTRIA: Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced a new lo ...

Read more
Artek Surfin to acquire 100 pc stake in Galata Chemicals

SOUTHBURY, US: Artek Surfin, Indian specialty chemicals maker, and Aterian Investment Partners, currently joint owners of Galata Chemicals, have reach ...

Read more
Air Liquide to supply gases to ThyssenKrupp in Germany

PARIS, FRANCE: Air Liquide has signed a major long-term supply contract with ThyssenKrupp Steel Europe AG in the Rhine-Ruhr area, Germany. Deliveries ...

Read more
New promising compound for cancer treatment

MELBOURNE, AUSTRALIA: Researcher at RMIT University have synthesized a promising compound for cancer treatment. Dr Dan Balan, from the School of Appli ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X