Turkish petrochemical complex Petkim announces tender to privatize part of shares
Azerbaijan, Baku, Feb.6 / Trend, A.Taghiyeva /
Turkish petrochemical holding Petkim has today announced a tender to privatize 10.32-percent of the company's shares owned by the state, the Resmi Gazete reported on Monday.
Initial cost of shares is estimated at $3 million.
All applications to participate in the tender should be submitted before March 20, 2012.
SOCAR is a party in the joint venture - co-owner of the Petkim petrochemical complex.
Previously, SOCAR Turkey Enerji began construction of a new oil refinery in Turkey to meet Petkim's needs of raw material.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC, detergents, being the only Turkish producer of such products, a quarter of which the company exports.
At present, the share of Petkim on the petrochemical market is 25 percent, but as a result of the work done, it will increase up to 40 percent.