Petkim receives license to build power plant
Baku, Azerbaijan, Dec.9
By Maksim Tsurkov - Trend:
Petkim petrochemical complex was granted with a license by the Energy Market Regulatory Authority of Turkey (EMRA) for the construction of a power plant, said the message of EMRA.
According to the message, Petkim plans to invest about $100 million into this project in 2015.
The statement said the investment will help to increase the complex capacity, diversify energy production, and reduce energy costs and the cost of production.
Meanwhile, the first phase of co-generation unit (Petkojen) construction is scheduled to complete in 2016, which will help to save up to 30 percent of the energy consumed.
The need for electricity and steam power of Petkim peninsula will increase four times by 2023.