The second phase of Petlim completes

Baku. 18 September. REPORT.AZ/ Construction of the second phase of the "Petlim" container terminal project of the State Oil Company of Azerbaijan Republic (SOCAR) in Petkim Peninsula, Izmir has been completed.

Report informs, an event was held in frames of completion of the construction and handover to the port manager "APM Terminals" company.

In the event, "Petlim" Director General Doğan Çırakoğlu said that the port forms logistics wing of Turkey's largest direct foreign investor SOCAR's integration plan. The Director General noted that by completion of the second phase, the port reached the capacity that the world's largest container vessels can berth as well as the port could provide necessary logistics for the entire Aegean Sea export. Construction of "Petlim" has been completed through 8,5 mln person/hour.

The port's total storage capacity reached 1.5 mln TEU by completion of “Petlim” second phase.

Notably, "Petlim" container port welcomed the first container vessel on December 6, last year. Thus, the first phase of "Petlim" launched. The first phase was completed at the end of 2015 and was handed over to "APM Terminals" management. Potential of the first phase of "Petlim Limancılık Ticaret A.Ş.” terminal of 1.5 mln container storage capacity makes 800 thousand containers. “Petkim Holding” owns 70% share in “Petlim Limancılık Ticaret A.Ş.”, American “Goldman Sachs” investment bank 30%.

While the port was still in the project phase, "APM Terminals" signed a contract for commissioning during 28 years after the project completed.

"Petlim" is supported within a large-scale incentive document, seconded by the Turkish government.

"Petlim" was realized with  $ 450 mln. investment.