Octal to purchase PTA from Sabic

Oman based OCTAL Petrochemicals Company is expected to purchase US$7 million raw materials product of Purified Terephthalic Acid (PTA) from the Saudi Basic Industries Corporation (SABIC).

The company is expected to import more than $175 million of Purified Terephthalic Acid (PTA) once the project is fully operational next March.

OCTAL also imports Mono Ethylene Glycol (MEG) from the Kuwaiti based (MEGlobal), said Nourhan N. Beyrouti, the company’s head corporate communication.
The company aims to become the world's largest producer of PET Sheet for consumer packaging, with 20 per cent market share, and the Middle East's largest producer of PET resins. Key export markets are Europe and the US.

Based at Salalah Free Zone, Octal Petrochemicals is building a state-of-the-art integrated PET (polyethylene terephthalate) Resin and PET Sheet production plant, at an initial cost of $300m.

OCTAL’s current capacity stands at 330,000 metric tonnes, of which 150 tonnes is PET resin and 180 tonnes is PET sheet.

A second phase of expansion will be completed in early 2011, which will increase the PET capacity by another 500,000 metric tonnes.

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