Investments in the development of the Turkish petrochemical complex Petkim Petrokimya Holding in January-September 2022 amounted to 1 billion 736.62 million Turkish liras ($93.4 million at the current exchange rate), the statement of the holding.

SOCAR Turkey Enerji (SOCAR’s Turkish subsidiary IF-Az) is the owner of a controlling stake (51%) of the Petkim Petrokimya Holding petrochemical complex.

In January-September 2021, investments in the optimization of the activities of Petkim Petrokimya Holding amounted to 582 million TL. Thus, for the reporting period of 2021, the volume of these investments increased by 3 times.

In January-September 2022, the volume of production of Petkim products amounted to 2 million 452.541 thousand tons (a decrease of 24%). During the reporting period, the holding sold 1 million 963.919 thousand tons of petrochemical products (a decrease of 0.4%).

The capacity utilization rate of Petkim in January-September 2022 was 71.5% against 92.2% a year earlier.

Source: Turan News Agency