Azerbaijan, Baku, June 2 / Trend E. Ismayilov /
Turkish petrochemical complex Petkim produced 700,000-800,000 tons of petrochemical production in the first quarter of 2009. SOCAR (the State Oil Company of Azerbaijan) has share holding in this company, Petkim petrochemical holding executive director Kenan Yavuz told Trend on June 2.
"Roughly 3 million tons of petrochemical products is planned to produce in 2009. Petrochemical complex got profit in the amount of $300 million during the first three months of 2009," Yavuz said.
There is no impact of the world financial-economic crisis. Complex operates in full swing, he said. Complex will get profit in the amount of $1.5 billion in 2009 compared to $2 billion in 2008.
Alliance of companies SOCAR/Turcas Petrol/Injaz Projects became winner of tender on sale of 51-percent package of shares of Turkish petrochemical concern Petkim in 2008. Alliance of companies suggested $2.04 billion for this concern.
Presently, Turkey imports 70-75 percent of necessary chemical production. But investments of SOCAR/Turcas/Injaz in development of Petkim will allow reducing import of production to 30 percent.
Petkim Petrokimya Holding produces plastic packing, clothes, PVC, detergents. Petkim Petrokimya Holding is the only producer of such production in Turkey. The company exports a quarter of production.
Presently, capacity of this holding production hits 3.2 million tons. This index will increase 6.3 million tons by 2015. Presently, Turkey's demands for petrochemical production hit $6.1 billion. This demand will increase 11-12 percent annually. Today production of Petkim covers 25 percent of Turkish market.
Production of Petkim petrochemical complex will cover 40 percent of Turkish market as a result of actions that planned to implement in future.
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