Elchin Ibadov: All income of Petkim reinvested in Türkiye

Since 2008, when the Petkim petrochemical complex, a subsidiary of SOCAR Türkiye - Türkiye’s biggest foreign investor, started working, Azerbaijan has not been paid dividends, SOCAR Türkiye CEO Elchin Ibadov said, Report informs.

He noted that all income of Petkim is reinvested in Türkiye.

Ibadov added that Petkim is the only integrated producer of petrochemical products in Türkiye. He said that the petrochemical complex currently meets 12% of the demand for petrochemical products: “The figure was previously higher, but as the market and demand expanded, and the volume of petrochemical production increased, our market share amounted to 12%.”

Founded in 1965, Petkim Petrokimya Holding is Türkiye’s leading petrochemical complex. The complex produces ethylene, polyethylene, polyvinyl chloride, polypropylene and other petrochemical products that are used in the production of plastic mass, textiles, and other consumer and industrial products. Petkim shares are listed on the Istanbul Stock Exchange. SOCAR Türkiye Enerji controls 51% of Petkim shares.