Petlim’s annual investment spending hits TRY 40.5 mln

Baku. 12 May. REPORT.AZ/ Petkim’s investment spending made TRY 58 922 147 in the first quarter of 2017.

Report informs, this year’s investments will include spending for modernization of factories, increasing capacity, technological development, energy efficiency and environment.

In this period Petlim’s investment spending amounted to TRY 40 499 713.

Notably, Petkim Holding was established on April 3, 1965. After completion of privatization process in 2008, the State Oil Company of the Azerbaijan Republic (SOCAR) became main shareholder of Petkim.

“Petkim Aliaga Complex” includes 22 integrated facilities - 14 main plants, 8 auxiliary buildings. The complex’s annual production capacity is 3.6 mln tons.

First phase of Petlim container port project, the largest port of the Aegean Sea, started operations at the end of last year. Currently, construction works of the second phase are underway.

The first phase of ‘Petlim Port Trading’ Inc. with 1.5 million TEU overall capacity operates with 800,000 TEU capacity.

70% of ‘Petlim Port Trading’ Inc. belong to Petkim Holding, 30% to Goldman Sachs investment bank.

While in project stage the agreement was signed with APM Terminals Port Business Inc., the leading company in container terminal management, for explotation of the port during 28 years.