Octal Wins GCC ‘Mashreq Oil and Gas Project of the Year’ Award

PLANO, Texas - May 30, 2013 - PRLog -- 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 ‘2013 MEED Quality Awards for Projects, in association with Ernst & Young. 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 that contributes to the social and economic development of the Middle East.

William J. Barenberg, Jr., COO of OCTAL, said, “Our partners successfully delivered OCTAL’s state-of-the-art PET complex expansion on time, within budget and to same exacting standards as the existing facility. This critical expansion increased OCTAL’s total system output to one million tons per annum, giving OCTAL the capacity to meet the rising global demand for sustainable PET resin and PET sheet.”

“Being recognized as such a high quality project with the GCC ‘Mashreq Oil and Gas Project of the Year’ award for completed projects is truly an honor and reinforces our commitment to lead the packaging industry with environmentally-sound packaging solutions,” he added.

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 purpose-designed and purpose-built to yield superior quality products with waste and cost reduction benefits, increased productivity for thermoformers and unmatched environmental advantages.

For more information visit: www.octal.com