Petkim gains 48.6m liras profit in 9 months
By Aynur Jafarova
Turkey's Petkim Petrochemical Holding, in which Azerbaijan's state energy company SOCAR owns equity shares, gained 48.6 million liras profit during the first nine months of 2013, director of Petkim Sadettin Korkut said on February 15.
Despite the fact that the sale volume dropped in 2013, it did not significantly affect the company's profit, Korkut added.
Earlier, Korkut said Petkim will invest an additional $8 billion in the Turkish economy in the next five years.
The additional investments will contribute to the country's economic development.
Petkim is co-owned by the Azerbaijani state energy company SOCAR and the Dutch company APM Terminals, one of the world's leading port operators.
Petkim signed an agreement for the construction of a container port with a 1.5 million TEU capacity in February last year. The construction of the container port is one of the projects being rapidly implemented in Turkey.
Petkim will invest in the construction of the port and its infrastructure, while APM Terminals will invest in vehicles and equipment.
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. The investment process is expected to be completed in 2014, and the construction of the port will be over in 2015.