As a result of surges in demand created by the Covid-19 pandemic, an increase by 15 percent in February to May 2020 reported by Oman’s Octal PET volumes, compared with the same period last year.
To satisfy food and beverage packaging demand, 247,000 tonnes of PET sheet and resin produced and shipped by Octal to various destinations around the world during this time. As the global demand for PET continues to surge, Octal is steadily expanding its presence into Latin America and Asia and other wider geographical markets.
As Octal evolves through its fourth development phase since 2019, it continues to position itself for strong and rapid growth. Last year, $625 million secured by the company in financial backing. An 8 percent year-on-year increase also reported by Octal in sales across its main segments, in addition to a 26 percent increase in profitability.
