Petkim market value announced

Baku. 5 June. REPORT.AZ/ Market value of Petkim, mainly owned by the State Oil Company of Azerbaijan Republic (SOCAR), makes 2.1 bln USD to April, 2017.

Report informs citing "SOCAR Turkey Enerji”, after the privatization, Petkim market value increased by 420% in TRY: "Annual 100-150 mln USD is invested in Petkim. Amount of the investment in Petkim after procurement makes 730 mln USD. Petkim manufactures 60 different types of products. These products are purchased by 6.000 small and medium enterprises in Turkey and used for manufacturing new products. Petkim products are exported to over 50 countries".

It was noted that Petkim provides employment directly for 2.500 people and indirectly for 150.000.

Notably, in 2008, SOCAR acquired Petkim from Turkey's Privatization Administration (51%) for 2.040 billion USD and launched its activity in Turkey. Currently, SOCAR owns 51% share at Petkim Holding, remaining shares of Petkim are in turnover on Istanbul Stock Exchange. Petkim is the first and only Turkish petrochemical complex and largest exporter of the Aegean region.