Investments in Petkim optimization in 1Q25 increased almost 2 times

Investments in the development of the Turkish petrochemical complex Petkim Petrokimya Holding in the first quarter of 2025 amounted to 976.152 million Turkish liras [$25.2 million at the current exchange rate], Report informs referring to the holding's quarterly update.

Considering that in the first quarter of 2024, investments in the development of the complex amounted to 568.708 million Turkish liras [$14.7 million], then by the end of January-March 2025, their volume increased by 1.7 times.

"During 2025, investments will be directed to the modernization of Petkim plants, general improvement and technology development, energy efficiency and environmental protection," the report says.

In addition, according to the document, in the first quarter of 2025, the volume of Petkim products amounted to 599,293 tons (an increase of 18.7%). During the reporting period, the holding sold 444,185 tons of petrochemical products (a decrease of 1.7%).

The capacity utilization rate of the complex during the reporting period was 66.3% compared to 57.7% in January-March 2024.

SOCAR's annual investment in the development of the Petkim complex is about $100 million. In 2024, SOCAR's investment in the development of Petkim Petrokimya Holding amounted to 6 billion Turkish liras ($154.7 million).

Petkim Petrokimya Holding, founded on April 3, 1965, 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 plastics, textiles and other consumer and industrial goods.