Omani polyethylene terephthalate producer Octal will increase production capacity threefold to over 900,000 mt by the end of July, a company source confirmed Thursday.
Octal's current PET plant in Salalah, Oman, is able to produce 300,000 mt/year. By the end of May, the company will increase this by another 300,000 mt, the source said, adding that further 300,000 mt of annual capacity will be added in July.
Despite current weak fundamentals in the global PET markets, the company expects there to be enough demand to accommodate product from the added lines.
Salalah is a port on the southern coast of the country, which provides Octal with excellent logistics to ship product both to the European and Asian markets.
