Investment in Petkim to make $ 100 mln this year

Baku. 13 October. REPORT.AZ/ Amount of investment in Petkim will reach about $ 100 mln by the end of this year.

Report informs, Anar Mammadov, Director General of Petkim Holding, which is mainly owned by the State Oil Company of Azerbaijan Republic (SOCAR), told reporters in Baku.

According to him, budget for the next year has not been determined yet: "But I suppose that, the amount of the investment will be more than 100 mln USD".

Regarding the production volume, he noted that volume of annual production makes 2 mln tons: "Share of Petkim in the Turkish market is currently 20%".

Notably, in 2008, SOCAR purchased Petkim (51%) for $ 2,040 billion and launched activity in Turkey. Currently, SOCAR owns 51% of Petkim Holding shares. The rest of Petkim’s stakes is in circulation at Istanbul Stock Exchange. “Petkim” is the first and only petroleumchemical complex in Turkey and biggest exporter of the Aegean region.