Azerbaijan, Baku, June 1 / Trend, S. Aliyev /
In February of 2011 SOCAR (State Oil Company of Azerbaijan) will complete repayment of a loan received to purchase 51 percent stake in Turkish petrochemical complex Petkim, Suleyman Gasimov, vice-president of SOCAR on financial affairs said.
Formerly the Turkish Administration for Privatization approved the alliance Socar/Turcas Petrol/Injaz Projects as the winner of the tender on the sale of the 51% share of Turkish Petrochemical Holding Petkim.
According to Gasimov, the total amount of the loan to purchase shares in Petkim was 610 million dollars.
"So far, about two-thirds of the amount has been paid. The remaining 203 million dollars will be returned in February of 2011," he said.
Petkim Petrokimya Holding is specialized in the production of plastic packages, fabric, detergents and is only producer of these goods in Turkey exporting the fourth part of the output. The total capacity for the production of plastic of the Petkim is 1.2 million tons.