Oman-based Octal, a leading environmental packaging company, will drive two of the five projects identified during the Petrochemical Lab by Tanfeedh, the National Programme for Enhancing Economic Diversification, said a report.
Mandated to advise on projects that will contribute to the diversification and growth of Oman’s gross domestic product (GDP), the Salalah-based export powerhouse will help shape the sultanate’s future economic strategy, growth and diversification away from hydrocarbons, added the report.
The first project, ‘PET Capacity Utilisation Enhancement’, is owned and will be implemented by Octal, focusing on increasing Octal’s production capacity in Salalah, while maintaining a highly efficient carbon footprint in line with the company’s current sustainability strategy.
This increase in its production capacity aims to create additional job opportunities, as well as opportunities for SME’s in Salalah.
‘PET Preform and Bottles’, the second project for which Octal will provide technical and marketing support when needed, will be best positioned in Salalah to take advantage of Octal’s PET Resin production capabilities, technical expertise, and know-how.
This will result in a highly competitive PET Preform production facility ready to replace the current imports into the Sultanate and create a platform for export into the region, added the report.