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OCTALOutstanding Contribution to Teaching and Learning (University of Wollongong, New South Wales, Australia)
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Ahmed Al Najjar -- Director of Government Affairs at OCTAL, said, "We are pleased to be able to join forces with the Ministry of Sports Affairs, which runs the Oman Basketball Association, to promote basketball in the Sultanate and we look forward to seeing young talent reach their full potential and shine on the court.
Speaking at a press conference held at the Al Bustan Palace, A Ritz Carlton Hotel on Tuesday, Nicholas Barakat, chief executive officer of OCTAL said that the deal signed by the company is one of the biggest private sector financing deals of the last decade.
Scott Ewen, Chief Financial Officer at OCTAL, said, Cost control and cost reduction initiatives have been fundamental to ensuring financial sustainability over the long term.
Octal has significantly contributed to the Sultanates economic diversification and is one of its major non-oil exporters.
For more information on Octal's services, visit https://www.octalsoftware.com
Octal Holding's Lebanese Managing Director Nicolas Barakat was in March 2009 quoted as saying: "Our Phase-1 is near completion and we remain on track with Phase-2".
Octal's CEO, Nicholas Barakat, said: "Our unique position in Oman's Port of Salalah puts us at the heart of East-West trading lines that in turn enabled us to circumnavigate the impact of hurricanes Harvey and Irma with minimal interruptions to our supply chain.
OCTAL has also offered internships to local students from Omani universities and technical colleges, and mentorship to new businesses in Dhofar as part of Ministry of Manpower regulations to develop a sustainable local workforce.
Octal is based in the capital Muscat but has operation in Dhofar in the south of the country.
For instance, plastics manufacturer OCTAL that produces PET resin and sheets of various thickness, sells 90 per cent of its products to clients in the US, Europe and Asian markets as the water and beverages industry is significantly large there.
The new facility will produce PET bottle grade resin run at full capacity by August, setting Octal up to more than double the annual value of its exports from $558m ending Q1 2012 to a projected $1.33bn in the year ending Q1 2013.
The transaction was carried out between BP's petrochemicals business for Oman-Based OCTAL, one of the largest PET producers in the world based in the Sultanate of Oman and a global leader in the packaging industry.