Turkish petrochemical complex Petkim will establish an enterprise for the production of high-tech engineering plastics and chemicals, the Turkish state body on public alert (Kamuoyunu Ayd?nlatma Platformu KAP) said Oct. 21.

A company called Petkim Specialities Mühendislik Plastikleri Sanayi ve Ticaret A.?. (Petkim specialities) is a 100-percent subsidiary of Petkim.

"Petkim Specialities will use the assets of the plastic production plant with a capacity of 14,000 metric tons per year, as part of Petkim, to carry out its activity,” the statement said.

“The company initially plans to invest up to $5 million to increase the plant's capacity to 24,000 metric tons of plastics per year. The company will acquire new machinery and equipment with a capacity of 10,000 metric tons per year."

SOCAR has 61.32-percent share in Turkey’s Petkim Petrochemical Holding.

Petkim produces plastic packages, fabric, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported. The rest of the complex shares are in free circulation on the stock exchange.

/By Trend/