Petkim industrial zone may get ppecial status

Special status should be assigned to such industrial zones as Petkim, which plays an indispensable role in the Turkish economy, Deputy Minister of Energy and Natural Resources of Turkey Metin Kilchi said at a reception dedicated to the 47th anniversary of the holding company, Haberler agency said on Tuesday.

The main shareholder of Petkim is SOCAR Turkey Enerji (Turkish division of the State Oil Company of Azerbaijan).

"Increase of investments in such companies as Petkim is very important, as these companies can reduce dependence of Turkey on exports," Kilchi said.

Chairman of the Board of Petkim Vagif Aliyev said approximately $17 billion will be invested in a petrochemical holding Petkim in the coming years. Petkim has become a symbol of Turkish-Azerbaijani brotherhood, he said.

Earlier, on March 30 Socar Turkey Enerji A.? and SOCAR International DMCC OGG acquired 10.32 percent stake in Petkim, increasing its stake to 61.32 percent. Some 38.67 percent are in free circulation in 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.


/Trend/