Construction of Petkim infrastructure 40 percent completed
By Aynur Jafarova
The construction of around 42 percent of the infrastructure of Petkim container port and about 82 percent of the ground works have been completed.
The construction of the port is expected to be completed in 2015, and the cost of the construction project will amount to $400 million, director of Petkim Petrokimya Holding Sadettin Korkut told journalists on November 20.
He went on to note that the capacity of APM Terminals will exceed the capacity of Alsancak port by about 50 percent.
"The construction of a new container port will contribute to the region's development and the port can receive containers with the length of 330 meters," Korkut said.
According to him, the intensive construction of the new port is carried out thanks to the investments by SOCAR Turkey Enerji, the Turkish division of Azerbaijan's state energy company SOCAR.
"SOCAR Turkey Enerji is currently implementing very beneficial energy projects in Turkey," the director of the holding said.
He also said that Petkim began to develop more actively after SOCAR Turkey Enerji obtained it, and the projects that are currently being implemented are a testimony to that.
According to Korkut, Petkim was in the privatization stage for about 19 years.
The investments made by SOCAR Turkey Enerji in Turkey are a clear proof of friendly relations between Turkey and Azerbaijan, he said.
He went on to say that Petkim currently controls some 25 percent of Turkey's petrochemical sector.
According to Korkut, Petkim's revenues have significantly increased over the past nine months and will increase further.
Earlier, Petkim Petrokimya Holding and Dutch APM Terminals Company signed an agreement on thee construction of a container port with the capacity of 1.5 million TEU.
The Petkim container port will belong to Turkey, but Danish and Dutch companies will operate it for 30 years. The initial capacity of the port will be 1.5 million TEU (twenty-foot equivalent unit) which will be increased to four million TEU in the future.
Petkim Petrokimya Holding is co-owned by SOCAR and Dutch company APM Terminals, one of the world's leading port operators.
It 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.
SOCAR is one of the world's most well-established oil companies, active in Turkey since May 30, 2008.
SOCAR Turkey Enerji aims to reduce dependence on foreign goods and exports in Turkey by providing high value-added products made inside the country.