Alpek agreed to buy 100% of OCTAL Holding SAOC for US$620 million on a debt-free basis, adding over one million tons of PET sheet, recycling, packaging and resin capacity across sites in Oman, the US and Saudi Arabia.

OCTAL, the largest global PET sheet and resin manufacturer on a single site, secured US$625 million of banking facilities to fund capex expansion at its locations in Oman, USA and Saudi Arabia.