Oman-based Octal Petrochemicals has started operations of its second PET plant in the southeast port city of Salalah.
The new facility has a capacity of 300,000 metric tonnes per annum, making it the largest PET resin plant of its type in the Middle East and the largest clear rigid PET sheet plant in the world.
As leading clean energy producers gather at the World Future Energy Summit in Abu Dhabi this week, Octal can also point to a major technological breakthrough in the manufacturing processes of its new facility that delivers enhanced energy and cost savings.
Food and consumer packaging markets in the US, Europe and China are Octal's prime targets in 2009. The first orders of PET resin to Europe have been shipped this month, and Octal expects total per annum sales to reach $400m (Dh1.46bn) by the end of this year.
Octal Chairman Sheikh Saad Suhail Bahwan said: "The new plant marks the company's emergence as a global player in PET resin and clear rigid sheet packaging. Our investment delivers dramatically enhanced scale, breakthrough technology, and crucial cost and quality advantages at a time when customers need them most."
In just more than two years, Octal has become the largest exporter from the port of Salalah and a growing local employer.