MOSCOW (MRC) -- The production capacity of the Turkish Pektim Petrochemical Holding where SOCAR, Azerbaijan’s state energy company has equity participation will increase from 3.2 million tons to 3.6 million tons in 2014, reported Yarns&Fibers.
An increase in production capacity will be possible thanks to the improved capacity of ethylene and purified terephthalic acid (PTA) production enterprises.
In particular, the ethylene production enterprise's capacity will increase from current 520,000 tons to 587,000 tons by late 2014. The PTA production capacity will increase from 70,000 tons to 105,000 tons which will require investments worth USD25 million.
Petkim also said that the first stage of construction of a wind power station will be completed in November 2014 in the petrochemical complex.
The technical evaluation process of the power station establishment project has already been completed. The implementation of the first phase is planned to be launched this year.
The total capacity of the power station will reach 50 MW and the output will be 25 MW in the first phase.
As MRC wrote previously, Petkim together with its key owner, Socar plans to transform Aliaga into an industrial cluster. The transformation has several positive effects on Petkim. Star refinery, Petlim and Petkojen projects are the key earnings drivers. Among these initiatives, the building of Star refinery by Socar-Turcas, the container port project Petlim and co-generation plant project Petkojen are the key additions. Star refinery allows Petkim to receive feedstock at lower cost and better quality. Petlim utilizes the port area belonging to the company more efficiently. Petkojen lowers the overall energy cost of the company by turning the boilers to dual mode.
Petkim is the leading petrochemical company of Turkey. Specializing in petrochemical manufacturing, the company produces ethylene, polyethylene, polyvinyl chloride, polypropylene and other chemical building blocks for use in the manufacture of plastics, textiles, and other consumer and industrial products.
MRC