Azerbaijan, Baku, March 26 / Trend, A. Taghiyeva, E.Ismayilov /
Investments in the development of oil refining - petrochemistry - energy - logistics in the Aliaga industrial center in Turkey hit $6 billion, Haberler agency reported on Monday with reference to Petkim board chairman Vagif Aliyev.
The State Oil Company of Azerbaijan (SOCAR) is a co-owner of the Turkish petrochemical complex Petkim in Aliaga. Work has been launched to construct a new oil refinery Star with capacity of 10 million tons to provide Petkim with raw materials.
Earlier Turkish petrochemical complex Petkim and Dutch company APM Terminals signed an agreement to build a container port with capacity of 1.5 million TEU in the Aliaga complex. It is planned to create new power generating facilities to meet Petkim's energy needs.
Aliyev said, given all envisaged projects, it is planned to increase the share of Petkim holding in the domestic market of Turkey from the current 25 to 40 percent.
As SOCAR President Rovnag Abdullayev said earlier, perspective development projects - "oil refining - petrochemistry - logistics - energy integration" were launched in October 2011 since the construction of the Star oil refinery began. In 2015, great part of this horizontal integration program will be completed.
The Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC and detergents. It is the only Turkish producer of such products and exports a quarter of its production.