FID on SOCAR’s second plant in Izmir to be made next year

SOCAR intends to lay the foundation of another petrochemical complex in Aliagha province, Izmir, Turkey, Director General of Petkim Anar Mammadov said at the press conference held for journalists in Izmir, Report informs.

According to him, the launch of the facility will put an end to Turkey’s import of purified terephthalic acid (PTA): "This product is only produced by Petkim’s PTA factory in Turkey. However, the factory is able to meet only a part of the Turkey’s demand. The new investment project will also allow production of paraxylene (PX) products in Turkey, which is imported in the volume of 800,000 tonnes."

Mammadov also noted that the field works are planned to commence in the first half of 2020: "$1.8 billion is supposed to be invested in the project. The Final Investment Decision (FID) is planned to be made in 2020. Technical documentation is underway. If the results are positive, financial decision will be passed in 2020 and construction works will begin. Construction works may take nearly 5 years and it might be launched in 2024-2025."