Investment in Petkim Holding increased by 53%

Baku. 8 September. REPORT.AZ/ In January and July 2016, investment in Petkim Holding, mainly owned by the State Oil Company of Azerbaijan Republic (SOCAR) amounted to 87 mln USD. 

Report informs, Petkim Holding CEO Anar Mammadov said at meeting with Azerbaijani journalists, who are on a visit to Izmir.

A. Mammadov noted this figure will increase by the end of the year. However, the main part of the capital invested.

The CEO noted the volume of investments in the same period last year was 57 mln USD.

A. Mammadov said the main part of the investments directed to the project of wind power plants:At present, integration activities done between  STAR plant and Petkim complex, pipelines are laid, the infrastructure is established. Therefore the volume of investment was a little more."

General director of the Holding said at present, "Petkim"s market value is 2,3 bln USD.He recalled that "Petkim"s annual production capacity is 3 mln tons: "Production capacity is expected to increase further in the future. Petkim in the future should remain Turkey's leading petrochemical company. Turkish domestic market is very large, it also creates opportunities for us.Our intention is to make full use of these opportunities."