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Turkish petrochemical company publicizes production and export volumes

Oil&Gas Materials 18 August 2009 13:32 (UTC +04:00)

Azerbaijan, Baku, Aug.18 / Trend E.Ismayilov /

The Turkish petrochemical holding Petkim whose 51 percent of stakes belong to the State Oil Company of Azerbaijan Republic (SOCAR) in alliance with Turcas, sold petrochemical products worth more than 895.3 million of Turkish lire (about $597 million), Petkim said on Aug.18. Net income of the company amounted to $26 million in the first six months of 2009.

Petkim sold about 663 tons of petrochemical products in January to June, the same source said.

The petrochemical complex produced about 1.4 million tons of petrochemical products, with utilization capacity of 88 percent in January to June.

The company exported the production worth $129 million in the first half of 2009.

Petkim carries out work to increase the production capacity of enterprises and upgrade the manufacturing process at its own funds. In the first half of 2009, Petkim investments totaled $19 million.

Petkim held about 25% of the Turkish market in January to June.

SOCAR/Turcas/Injaz/ Projects acquired 51% share of Petkim chemical concern at $2.04bln. Turkey currently imports 70-75% of the necessary chemical products, but SOCAR/Turcas/Injaz investments to development of Petkim enable to reduce import of products to 30%.

Petkim Petrokimya Holding is specialized in the production of plastic packages, fabric, detergents and is the sole producer of these goods in Turkey, exporting one fourth part of its output.

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