Azerbaijan, Baku, September 25 /Trend, A.Taghiyeva/
PETLİM Port Operations Company co-owned by State Oil Company of Azerbaijan (SOCAR), intends to increase its capital by 75 million lira, Milliyet newspaper said on Wednesday.
The decision was adopted at the meeting of the board of directors of the company. After the payment of funds, the company's authorized capital will hit 83 million lira.
PETLIM Company is the subdivision of PETKIM petrochemical complex and was founded in 2010.
PETKIM and Dutch company APM Terminals signed an agreement to build a container port with capacity of 1.5 million TEU, in February 2012.
Its capacity will exceed the capacity of Aslandzhak port by about 50 per cent.
The company APM Terminals will have the right to manage the port during 28 years.
Earlier, SOCAR Turkey Enerji A.Ş and SOCAR International DMCC OGG acquired about 10.32 per cent of PETKIM shares, increasing their shares to 61.32 per cent. Some 38.67 per cent of shares is in free float on the Istanbul Stock Exchange.
Petkim Petrokimya Holding produces plastic packaging, fabric, PVC, detergents; it is the only Turkish producer of such products, a quarter of which is exported.
Official exchange rate on September 25 is 1.9946 TRY/USD.