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Muscat - Discussing the future of manufacturing in the Sultanate at Ithraa's Inside Stories Series, Nicholas Barakat, CEO of Salalah-based OCTAL, the world-leading producer of PET sheet and resin, shared insights into the company's outstanding success, and highlighted the extraordinary potential of the burgeoning sector as Oman broadens its economic base beyond hydrocarbons.
Emphasising OCTAL's pride in helping place Oman on the world map as a manufacturing and distribution hub, Barakat explained that the performance of local manufacturers so far, while impressive, represents just the beginning of what can be achieved: "Bringing this important sector to its full capabilities will take time, but today it is easier than ever to develop and grow given the Sultanate's on-going transformation of infrastructure, available free zones, and, above all, its safety and stability. The foundations are already here and the opportunities are there for the taking."
Explaining that to be successful, aspiring Omani manufacturers should follow OCTAL's lead and build their businesses on technology and innovation, the OCTAL CEO added: "In the ten years since it was first set up, OCTAL has constantly sought out new ideas, new concepts, new ways of doing things. Thanks to this innovation driven approach, and a solid and well thought out cost structure, we are now one of the Sultanate's principal exporters, have a four-plant operation in Oman, Saudi Arabia and the United States, a workforce of more than 600, and clients that include global brands such as Proctor & Gamble, Coca-Cola, and Nestlé."
According to Barakat, as Omani manufacturing grows, it will generate employment opportunities beyond the factories and industrial estates on which it is based with SMEs setting up to cater to the new industries: "Indeed, supporting industries including spare parts businesses, maintenance and freight companies have huge potential whether in Salalah or Oman as a whole."
Ithraa's Acting Director General of Marketing and Media, Taleb Al Makhmari, thanked the OCTAL CEO for his participation at Inside Stories and congratulated the company on its ten-year anniversary: "One of the Sultanate's key non-oil exporters, OCTAL is a tremendous example of our country's manufacturing potential. We wish them continued success and growth as they export cutting-edge packing solutions from Oman to the world."
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About OCTAL
Oman-based OCTAL has emerged as the largest PET sheet producer and integrated packaging company in the world. Operating from the Salalah Free Zone, the company has successfully harnessed its strategic location with access to East-West shipping lanes and favorable trading regulations coupled with its unique-to-the-world manufacturing capabilities to meet the breadth and depth of customer demand.
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.
Today, OCTAL is the world's largest PET resin and sheet producer on a single site.
For more information, please visit: www.octal.com
For press inquiries and images, please contact:
Shaza Taher
TRACCS Public Relations
Muscat, Sultanate of Oman
Telephone: +968 24 649-099
Email: shaza.taher@traccs.net
© Press Release 2016
