Turkish minister talks about importance of "Petkim"

Baku. 3 August. REPORT.AZ/ We have 4 times bigger domestic market capacity than Petkim with annual production capacity of 3.5 mln tons. We import petrochemical products worth $ 11 bln annually. We decided to add "Petkim" enterprise to Izmir. Investment will be made by private sector. Our job is to give space”.

Report informs citing the Turkish media, Minister of Science, Industry and Technology of Turkey, Faruk Özlü said.

The minister noted that the Star oil refinery, built by the State Oil Company of Azerbaijan Republic (SOCAR), is of great importance for the country. F. Özlü also noted that they are trying to establish a few mega-enterprises in their country.

Notably, in 2008, SOCAR acquired 51% stake in Petkim petrochemical complex worth $ 2.04 bln. and started to operate in Turkey. The remaining 49% of the shares of Petkim Holding are in circulation on Istanbul Stock Exchange ("Borsa İstanbul"). "Petkim" is Turkey's first and only petrochemical complex, the largest exporter of the Aegean Sea.