Baku, December 3, AZERTAC
A new subsidiary company "Petkim Specialities Engineering Plastics Industry and Trade Co., Ltd." (Petkim Specialities), created by "Petkim Petrochemical Holding AS" of SOCAR in Turkey, will produce plastics and chemical products with modern technology.
According to the Director General of "Petkim Petrochemical Holding AS", Safeddin Gorgud, "Petkim Specialities", will be specialized in the production of the products of modern engineering plastics (masterbach, Compund) and chemical products.
Mr. S.Gorgud said that, Petkim Specialities will use the assets of the plastic production plant with a capacity of 14,000 metric tons per year, as part of Petkim, to carry out its activity.
“The company initially plans to invest up to $5 million to increase the plant's capacity to 24,000 metric tons of plastics per year. The company will acquire new machinery and equipment with a capacity of 10,000 metric tons per year", he noted.
SOCAR has 61.32-percent share in Turkey’s Petkim Petrochemical Holding.
SOCAR continues its activities in Turkey with the name of "SOCAR Turkey Energy Inc." (STEAŞ), since May 30, 2012.