Petkim to boost output to 3.6m tons in 2014
By Aynur Jafarova
Turkey's Petkim Petrochemical Holding, in which Azerbaijan's state energy company SOCAR owns equity shares, will increase its production capacity from 3.2 million tons to 3.6 million tons in 2014, Petkim said on January 16.
An increase in production capacity will be possible thanks to the improved capacity of ethylene and purified terephthalic acid production enterprises.
In particular, the ethylene production enterprise's capacity will increase from current 520,000 tons to 587,000 tons by late 2014. The purified terephthalic acid production capacity will increase from 70,000 tons to 105,000 tons which will require investments worth $25 million.
Petkim also said the first stage of construction of a wind power station will be completed in November 2014 in the petrochemical complex.
The technical evaluation process of the power station establishment project has already been completed. The implementation of the first phase is planned to be launched this year.
The total capacity of the power station will reach 50 MW and the output will be 25 MW in the first phase.
Petkim Petrochemical Holding manufactures plastic packages, fabrics, PVC, detergents, and is the only Turkish producer of such products. A quarter of Petkim's products are exported to foreign markets.
Petkim said earlier that its net profit amounted to 48.6 million Turkish liras in January - September 2013.