After privatization $ 760 mln invested to Petkim

Baku. 4 June. REPORT.AZ/ After privatization, $ 760 million has been invested to Petkim, the only petrochemical complex in Turkey, which is the main share owned by the State Oil Company of Azerbaijan (SOCAR).

Report informs referring to Turkey media, General Director of Petkim Petrochemical Holding A. S. Anar Mammadov said.

“After privatization of Petkim in 2008, complex has been invested $ 760 million. 2500 people work in Petkim. The product for $ 1-1.5 billion sold in every year”.

He said that Petkim has an annual turnover of $ 3.6 million tons of petrochemical products and most of the products are sold on the domestic market. According to him, 60% of Petkim products are sold on the Turkish market and 40% are exported to more than 50 countries.

Notably, SOCAR purchased 51% stake of Petkim in 2008 for $ 2.04 billion and began its function in Turkey. The remaining shares of the company are traded on Istanbul Stock Exchange (Borsa Istanbul).