SOCAR to increase petrochemicals production in Turkey by the end of the year

The state oil company of Azerbaijan keeps expanding its business in Turkey. The significant part of its business is petrochemical complex Petkim. The plans for this year are the completion of wind farm construction and an expansion of production of a number of products. In 2014, the production capacities of Petkim, which principal shareholder is SOCAR, will increase from 3.2 million to 3.6 million tons a year. According to Petkim, it will become possible due to an expansion of a plant on the production of ethylene and fine terephthalic acid. In particular, the output of ethylene will increase by 13% before the end of the year. The plant will almost produce 590 thousand tons of ethylene a year against the current 520 thousand tons.