Azerbaijan, Baku, May 22 / Trend , E.Ismayilov/
The State Oil Company of the Azerbaijani Republic (SOCAR) is studying petrochemical markets in several regions, SOCAR high ranking official said commenting the possibility to develop special petrochemical strategy of the company for the South-Eastern Europe.
"Company is considering petrochemical markets and Europe, in particular the East and South-East Europe, as well as the Saudi Arabia, negotiations are held with Indians and Iranians, the South-East Asia. Naturally, this is a global market and we are considering all regions. SOCAR is looking for acceptable, economic and commercially beneficial versions," SOCAR'' source said.
Last year, the alliance of companies of the SOCAR/Turcas Petrol/Injaz Projects on a tender to sale 51 percent of shares of the Turkish petrochemical concern Petkim offering $2.04 billion.
Turkey imports 70-75 percent of chemical products, but investments of the SOCAR/Turcas/Injaz into Petkim will allow to decrease the import of the product to 30 percent.
Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC, cleaning materials, as the only manufacturer of such products in Turkey, of which a quarter the company exports.
SOCAR is planning to increase company's incomes to $4 billion from $1.9 billion before 2015. Holding's production capacity is 3.2 million ton. The figure will increase to 6.3 million ton before 2015. Turkey's need of petrochemical production is $6.1 billion, and the demand will gradually increase by 11-12 percent. Petkim's production is covering 25 percent of market in Turkey.
Owing to taking measures Petkim's production will cover 40 percent of market in Turkey in the coming future.
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