Azerbaijan, Baku, Oct.29 / Trend A.Taghiyeva /
Investing in construction of a cable plant for the Turkish petrochemical complex Petkim will begin this year, Petkim Director General Hayati Ozturk said.
The plant will produce cross-linked polyethylene (XLPE), which is the main raw material for the production of cables. The plant's production capacity will reach 30,000 tons of XLPE per year.
According to Ozturk, it is planned to complete construction of the plant in 2014. It will be able to provide all of Turkey's needs in XLPE type cables and in the future will be able to export this type of product.
Earlier SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.67 per cent are in free circulation at the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC, detergents being the only Turkish producer of such products, a quarter of which the company exports.