Octal wins GCC ‘Mashreq Oil and Gas Project of the Year’ award

Oman based OCTAL, the world’s largest producer of PET resin and sheet on a single site, has won the highly acclaimed and sought after GCC ‘Mashreq Oil and Gas Project of the Year’ award for its PET Complex expansion phase during the ‘MEED Quality Awards for Projects 2013’  held in the UAE last week. The award submission was jointly completed by OCTAL and the project’s management company, Faithful+Gould (F+G). Judged by an independent panel of experts, the awards program recognizes and celebrates outstanding construction projects across the GCC which contribute to the social and economic development of the Middle East. 

Sheikh Saad Suhail Bahwan, Chairman of OCTAL, said, “Being recognized for project excellence by the only GCC-wide awards program that acknowledges completed quality projects is truly an honor and reinforces our commitment to lead the conversion of the packaging industry to more environmentally-sound packaging solutions. OCTAL’s state-of-the-art PET Complex expansion had to be built to the same standard of the previously existing facility to maintain our leading position in the PET market sector and our partners successfully delivered the project on time and within budget.” 

He added, “This has enabled OCTAL to meet rising global demand for PET and increase total system output to 1 million tons per annum of PET bottle grade resin.“ 

At the national level, OCTAL also won the ‘Lafarge Sustainable Project of the Year’ title for demonstrating the company’s ground-breaking technology and proprietary production methods to produce PET resin and PET sheet. OCTAL’s production process for PET sheet consumes 65% less purchased electricity and 28% less thermal energy, resulting in 18% lower global warming potential and a 30% lower cradle-to-gate environmental footprint. 

Manufacturing PET resin and the first and only direct-to-sheet polyester sheet in the world, DPET, the company’s state-of-the-art plant was purposely designed and built to yield superior quality products with waste and cost reduction benefits, increased productivity for thermoformers and unmatched environmental advantages. Since breaking ground in 2006, OCTAL has achieved 100% substitution of resin imports into the Sultanate that helped local businesses cut costs and increase working capital.