Licensing the power plant construction of Petkim Petrochemical Holding in Izmir by Turkey's Energy Market Regulatory Authority (EPDK) is expected by late 2014, Petkim told Trend on Friday.
"The Turkish government gave positive evaluation to the report on environemental impact assessment. At this stage we expect the license by EPDK, and afterwards we will start major work on the construction of the power plant," Petkim told.
The construction of the power plant to be completed in 2016, the same year the plant will be put into operation.
As to the construction of Petkim's container port , the first phase of works to be completed in 2015, and the second phase in 2016.
Petkim and Dutch company APM Terminals signed an agreement on container port construction with a capacity of 1.5 million TEU in February last year.The capacity will exceed the capacity of Alsancak port by about 50 percent.
APM Terminals will have the right to manage the port for 28 years.
Earlier, SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.67 per cent are in free circulation on the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.