SOCAR eyes to create chemical industrial park in Turkey
Baku, Azerbaijan, Nov. 10
By Akhmet Ismukhan, Orkhan Quluzade – Trend:
SOCAR Turkey Enerji A.S., a subsidiary of Azerbaijan’s state oil company SOCAR, wants to create a chemical industrial park, Hayati Ozturk, chief advisor of SOCAR Turkey Enerji A.S., said at the “Design and Innovations” forum in Istanbul.
Ozturk said that creation of a chemical industrial park is an innovation for Turkey.
He noted that the demand for chemical products is increasing in Turkey and SOCAR's new model for the organization of chemical production will create a new concept.
“At present, the work is underway for the production of ethylene from methane,” Ozturk said. “This will be a revolution for the energy sector of Turkey as it will reduce dependence on oil.”
SOCAR Turkey Enerji A.S. owns a controlling stake in Petkim petrochemical complex and implements Star refinery construction project.
The assets of Petkim petrochemical complex increased by 44.2 percent and stood at 5.46 billion liras as of Jan.1, 2016 as compared to 3.79 billion liras in 2014.
Petkim's net profit increased by 14 percent in 2015 as compared to 2014 and stood at 639.2 million liras. Its authorized capital has increased to 1.5 billion liras.
Petkim produces plastic packages, fabrics, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported.
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