Azernews.Az

By Nigar Abbasova

Market value of the Turkish Petkim petrochemical complex is currently estimated at $2.2 billion, Vagif Aliyev, head of the board of directors of Petkim said in a message, posted in the website of the company. Azerbaijan's state energy giant SOCAR holds control packet of shares in Petkim complex.

Aliyev emphasized that Petkim became one of the first companies in Turkey that was listed at a stock exchange.

“Petkim produces approximately 60 various types of products and delivers its products to over 50 countries. Thereby, it is the biggest exporter in the Aegean region,” he said.

He pointed out that 150,000 people have been directly or indirectly involved in the work of Petkim which has been operating for already 50 years, adding that some 6,000 small and medium-sized enterprises use the products of the company in Turkey.

Aliyev noted that Petkim fully supports the government, economy and stability in Turkey.

“The company will continue its operation for the benefit of Turkey and is ready to cooperate with the government,” said the message.

Meanwhile, Energy Minister of Turkey Berat Albayrak said that inspections currently carried out by the Turkish government authorities in various companies, including the Petkim petrochemical complex, in not related to the activities of SOCAR in the country

Petkim is considered to be a sole manufacturer of plastic packages, fabrics, detergents, and other petrochemical products in Turkey. Approximately a quarter of its produce is being exported. The complex includes 14 plants which produce 20 various types of products. Production capacity of Petkim is 3.6 million tons per year. The company is engaged in the production of high quality petrochemical products in its integrated and high technology premises, which are compatible with international standards.

SOCAR began its activity in Turkey after privatization of Petkim Holding in 2008 and has been operating under brand name of SOCAR Turkey. The company was acquired by SOCAR as a result of a tender of privatization.

SOCAR is also involved in the realization of other important projects in Turkey including Star refinery and Petlim container port.

Earlier, SOCAR’s President Rovnag Abdullayev talking to Anadolu agency mentioned that SOCAR has a full confidence in Turkey and will continue to implement projects and invest in the country.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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