Baku, Azerbaijan, Nov. 20
By Rufiz Hafizoglu - Trend:
To date, construction of around 42 percent of infrastructure of Petkim container port, as well as about 82 percent of earthworks have been completed, director of Petrochemical Holding Petkim Sadetdin Korkut told journalists on Nov.20.
It is expected that the construction of the port will be completed in 2015, and the cost of the construction project will amount to $400 million, Korkut said.
He stressed that the capacity of APM Terminals will exceed the capacity of Aslandzhak port by about 50 percent.
"Construction of a new container will contribute to the region's development and the port can receive containers with length of 330 meters," he added.
According to Korkut, the intensive construction of the new port is carried out thanks to the investments of SOCAR Turkey Enerji.
"Currently, SOCAR Turkey Enerji implements very beneficial energy projects in Turkey, director of the holding said.
He also stressed that after SOCAR Turkey Enerji obtained the company it began to develop more actively and the projects that are currently being implemented are evidences for this.
According to Korkut, Petkim company was in the privatization stage for about 19 years.
Investments of SOCAR Turkey Enerji in Turkey are a clear proof of friendly relations between the country and Azerbaijan.
He said that currently, Petkim company controls some 25 percent of petrochemical sector of Turkey.
According to Korkut, the revenues of Petkim have significantly increased over the past nine months and this figure will further increase.
SOCAR Turkey Enerji ranks second in the field of industrial production in Turkey.
SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.68 per cent is in free circulation on the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.