Petkim petrochemical complex’s production capacity to increase by 10 percent
Baku, Azerbaijan, Jan. 16
by Emil Ismayilov - Trend:
The production capacity of the Turkish petrochemical complex Petkim where SOCAR has equity participation, will increase from 3.2 million tons to 3.6 million tons per year in 2014, Petkim said today.
An increase in production capacity will be possible thanks to the improved capacity of ethylene and purified terephthalic acid production enterprises, according to the report.
In particular, the ethylene production enterprise's capacity will increase by 13 percent from current 520,000 tons to 587,000 tons by late 2014. The purified terephthalic acid production's enterprise's capacity will increase from 70,000 tons to 105,000 tons which will require investments worth $25 million.
SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 percent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 percent. Some 38.68 percent is in free circulation on the Istanbul Stock Exchange.
The Petkim Petrokimya Holding produces plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.
Translated by NH
Edited by SM