Turkey needs four more petrochemical complexes similar to Petkim, SOCAR Turkey Energy exec says
There is a need in Turkey to build at least four more petrochemical complexes similar to Petkim, SOCAR Turkey Energy head, board member of the Petkim Petrochemical Complex, Kenan Yavuz said in an interview with A Haber TV channel.
Yavuz encouraged other large holdings in Turkey to start working in the field of petrochemicals, as there is no competition in this market.
As for the partnership of Azerbaijani state oil company SOCAR with Turkish Ramsey company in fuel distribution, Yavuz said that the company is fairly successful in the domestic market of Turkey, and therefore SOCAR decided to cooperate with this company.
On Jan.10, the Energy Market Regulatory Authority of Turkey (EPDK) issued a license to SOCAR for distribution of fuel in the domestic market.
SOCAR Turkey Enerji A.Ş and SOCAR International DMCC OGG have acquired 10.32 per cent stake in Petkim, increasing its stake to 61.32 per cent. 38.67 per cent are in free circulation on the Istanbul Stock Exchange.
The Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC and detergents. It is the only Turkish producer of such products and exports a quarter of its production.