PET producer Octal has surpassed the $3 billion dollar mark in sales, a record in the company's six-year history. The company also recorded its highest quarter production volume of PET in Q1, with March 2014 being its second best month ever of PET production volumes, the company said. The latest capacity expansion of its PET complex in Salalah has increased production of bottle grade PET resin by 40% with a monthly run-rate of $100 million. Octal accounts for approximately 15% of Oman's non-oil exports, which equates to about 1.5% of the national GDP.
Joe Barenberg, executive VP and COO of Octal, said this is a clear indication of Oman's manufacturing prowess and potential for expanding Oman's presence on the world stage.