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SOCAR’s petrochemical complex receives $1.6B worth investments

Oil&Gas Materials 26 April 2023 13:32 (UTC +04:00)
SOCAR’s petrochemical complex receives $1.6B worth investments
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, April 26. The investments made in SOCAR Türkiye’s Petkim petrochemical complex since 2008 amounted to $1.6 billion, primarily accounting for digitalization and innovation, Anar Mammadov, Petkim general manager, told Haberturk, Trend reports.

“Petkim has a huge production capacity of strategic importance for the economy and industry of Türkiye and covers almost all sectors. We have more than 58 years of experience and know-how with 15 production facilities and 6 supporting facilities. We produce nearly 60 types of petrochemical products with an annual average gross production capacity of 3.6 million tons,” he said.

Mammadov noted that the capacity utilization at Petkim has reached 113 percent since the commissioning of STAR Refinery, which ensured uninterrupted supply of raw materials for Petkim. The smooth delivery of raw materials maximized SOCAR’s competitiveness in Türkiye and world markets.

Petkim is the first and the sole integrated petrochemical facility in Turkey. It is the largest exporter in the Aegean region. Petkim’s production capacity is 3.6 million tons per year. The petrochemical complex produces around 60 different types of products and exports to 78 countries. The complex meets about 20 percent of Turkey’s demand for petrochemical products.

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