Oman's Octal Holding plans to become world number 1 in APET sheet packaging

Oman's Octal Holding has invested US$300 mln into a petrochemical plant and plans to become the world's largest producer of amorphous polyethylene terephthalate (APET) sheet packaging. The plant started operations last December and has an annual capacity of 30,000 tons. A twin PET resin and APET sheet complex will provide a further 300,000 tons of APET sheet-making capacity from next April. Worldwide sales of amorphous polyethylene terephthalate (APET), is approximated at US$2.25 bln in 2006, mostly in the US and Europe. Octal's parent company Chemlink Capital Ltd and Pound Capital Ltd, both US-based private investment firms specialising in downstream petrochemical projects, have provided the initial funding along with institutional and individual investors in Oman, Saudi Arabia and Kuwait
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