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Petkim net income totaled $81.7 mln in January-September this year

November 02/2011

(Trend) -- Net income of the Turkish petrochemical complex Petkim totaled $81.7 mln in January-September this year, or 51 percent more than the same period of last year, SOCAR said on Tuesday. SOCAR has equity participation there. "During this period, the company's sale volumes exceeded 1.3 million tons, or 8 percent more than the same period of last year," a statement said.

The total cost of goods exported for the nine months amounted to $634 million, or 73 percent more than in January-September 2010. The investment program worth $ 63 million was implemented to improve technical services and production in January-September.

The alliance between SOCAR and Turcas Petrol /Injaz projects resulted in them winning a tender in 2008 to buy a 51 per cent stake in various chemical projects worth $2.04 billion. Now Turkey imports 70 to 75 per cent of its chemical products. Investments in the development of Petkim will reduce that figure by 30 per cent.

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.

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