...

Turkish Petkim Petrochemical Complex to increase production capacity in 2014

Oil&Gas Materials 15 March 2014 22:05 (UTC +04:00)
Turkish Petkim Petrochemical Complex plans to bring its production capacity to 3.6 million tons per year by late 2014, a message posted on Petkim's website said on March 14. The State Oil Company of Azerbaijan (SOCAR) has some 61.32 percent share of the company.
Turkish Petkim Petrochemical Complex to increase production capacity in 2014

Baku, Azerbaijan, March 14

By Emil Ismayilov - Trend:

Turkish Petkim Petrochemical Complex plans to bring its production capacity to 3.6 million tons per year by late 2014, a message posted on Petkim's website said on March 14. The State Oil Company of Azerbaijan (SOCAR) has some 61.32 percent share of the company.

As of 2013 the production capacity of the complex was equal to three million tons per year, according to Petkim's report on the results of its activity in 2013.

The production capacity of the complex will increase as a result of regular investments in average volume of $100 million, according to the website.

The production capacity of Petkim was used up to 81.4 percent in 2013, according to the holding. Some $ 112 million was invested to increase the production capacity of the holding in 2013.

On March 30, 2012, SOCAR Turkey Enerji A.Ş and SOCAR International DMCC OGG acquired a 10.32 percent stake in the Petkim petrochemical complex, increasing their stakes to 61.32 percent. Some 38.67 percent of the shares are on free circulation on the Istanbul Stock Exchange.

Petkim Petrochemical Holding manufactures plastic packaging, fabric, PVC and detergents and is the only Turkish producer of such products. The holding exports a quarter of its products.

Translated by L.Z.

Edited by C.N.

Tags:
Latest

Latest