Petrochemical complex Petkim to complete 2009 with huge profit
Azerbaijan, Baku, March 19 / Trend , corr. I.Khalilova /
The meeting of board of Petrochemical complex Petkim will take place in the beginning of April to discuss the results of the first quarter, SOCAR President Rovnag Abdullayev said on March 19.
"Today Petkim develops in accordance with the program approved, according to which the holding will complete 2009 with huge profits even on minimal scenario," Abdullayev said.
According to the realized program, productivity of Petkim will increase.
"Moreover, we plan to increase quality of raw material," Abdullayev said.
As a result of the measures planned to be taken, the production of Petkim will cover 40 percent of the Turkish market. SOCAR invested approximately $2 billion in the development of petrochemical complex, Abdullayev said earlier.
SOCAR intends to by 2015 increase the volume of the incomes of this enterprise to $4 billion from $1.9 billion today. Now the production capacity of this holding is 3.2 million tons. By 2015 this index will grow to 6.3 million tons. Today the needs of Turkey for the petrochemical production equal $6.1 billion, and this demand will annually grow 11-12 percent. Today the production of Petkim covers nearly 25 percent of the market of Turkey.
Earlier, SOCAR in alliance with Turcas Petrol and Injaz Projects possesses 51 percent participation share in Petkim. Turkey currently imports 70-75% of the necessary chemical products, but developing Petkim, the investment alliance SOCAR/Turcas/Injaz will provide an opportunity to increase the import up to 30%.
Petkim Petrokimya Holding is specialized in the production of plastic packages, fabric, detergents and is the only producer of these goods in Turkey exporting the fourth part of the output.Do you have feedback? Contact our journalist at: [email protected]