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Petkim awarded at World Economic Forum

23 January 2020 [15:15] - TODAY.AZ

By Azernews

By Rasana Gasimova

Turkey’s Petkim petrochemical complex, which is mainly owned by the State oil Company of Azerbaijan (SOCAR), has been elected to the World Economic Forum’s (WEF) ‘Global Lighthouse Network’ thanks to Industry 4.0 standard it obtained through digital applications and systems.

Petkim is the only company from Turkey in 2020 to be elected to the Global Lighthouse Network, established in 2018 and comprising of 44 companies that are accepted as the "Factories of the Future".

The prize was presented to the CEO of SOCAR Turkey Energy A.S. Zaur Gahramanov in Davos.

Earlier, it was noted that Petkim has ranked among the 18 new factories of the future drive impact in the Fourth Industrial Revolution, according to the World Economic Forum’s latest report which outlines insights into driving innovation, digital transformation and scale while also supporting sustainability and reskilling efforts.

“This 35-year-old petrochemical facility embarked on a digital journey to drive value creation. Self-developed artificial intelligence algorithms optimize process and product pricing by analyzing billions of production scenarios, resulting in an earnings before interest and taxes improvement of more than 20 percent,” the report said.

Global Lighthouse Network, a world-renowned standard for innovative and digital applications, is a reputable platform consisting of companies that use best practices in applying Industry 4.0 technology to the working processes.

It serves as a platform to develop, replicate and scale up innovations, creating opportunities for cross-company learning and collaboration and for setting new benchmarks for the global manufacturing community.

Petkim petrochemical complex produces plastic packages, fabrics, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported. The complex includes 14 factories producing 20 different types of products.

URL: http://www.today.az/news/business/190321.html

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