Oman-based PET producer Octal has received US$296 million funding for the next phase of its expansion, which will see the addition of 527,000 tonnes capacity by June 2012. The funding is being provided by a group of six Middle Eastern banks and will allow Octal to achieve its target of US$1.5 billion annual sales in 2012. Octal says that in less than five years, it has secured sales to more than 40 countries and set a target in early 2009 of US$500 million in annual exports. It doubled its earnings in 2010 and expects to do so again this year.
展开▼
