23.09.2021 - plastics news from Turkey

Socar Turkey to build $3 billion petrochemicals plant

Socar Turkey to build $3 billion petrochemicals plant
Pn

Socar Turkey to build $3 billion petrochemicals plant Azerbaiban’s national energy company Socar is looking to invest $3 billion in another Turkish petrochemicals plant, the company’s Turkey chairman, Vagif Aliyev, said at the opening of the International Caspian Oil and Gas Exhibition in Baku on May 31.

Socar, Azerbaijan’s biggest foreign investor in Turkey, is a majority stakeholder in the Petkim petrochemicals plant in Izmir, the Star refinery, the nearby Petlim container port and a power plant, as well as the Trans Anatolian Natural Gas Pipeline (TANAP), which is being built to transport 16 billion cubic meters of gas per year from the Shah Deniz 2 gas field in Azerbaijan to the Greek border.

The company has made $11 billion of investments in the past 10 years and expects that to reach $18 billion by 2020.

The Turkish government supports large-scale investments in certain sectors through its new manufacturing incentive package. “We shared this intention with the Turkish authorities. They support the idea. Such an investment could be part of the strategic incentives,” Aliyev said.

At the same event, Socar Turkey General Manager Zaur Gahramanov said that the company could start production of several new products, including rubber, at the proposed chemicals park. “We can build up bigger capacities than Petkim with it,” he said.

There is no room for expansion at Petkim, and so Socar is looking to triple output with the new plant, he said. “Petkim only meets 18 percent of Turkey’s needs but is at 93 percent capacity,” Gahramanov added.

Breaking even

Aliyev said that the company has yet to break even after investing $100 million every year since the acquisition of Petkim and has since begun the construction of the Star refinery, Petlim and TANAP. Socar bought Petkim at peak market price but even so its value has increased by 420 percent as of April 2017, Aliyev said. “The refinery will kick in shortly, and 72 percent of TANAP is complete. We opened the first phase of the port, and the second one is just around the corner. As investments are completed, we will be able to increase our income,” he said.

Socar Turkey activities by the numbers

  • Socar began its activities in Turkey with the acquisition of Petkim in 2008. It then started construction of the Star Refinery, Petlim container port and a wind turbine plant.
  • The company has invested $11 billion to date and is aiming for $18 million by 2020.
  • The investments include $6 billion for the Star refinery, $450 million for the port, $2.4 billion for Petkim and $730 million spent since and $8.5 billion for TANAP.
  • Star will have capacity of 10 million metric tons of crude annually. Petroleum products such as diesel, jet fuel and LPG will be produced with 1.6 million ton of naphtha.
  • Once the first phase of investments is over, Socar Turkey will be one of the three largest conglomerates in the country.
  • 88.4 percent of Star and 72.4 percent of TANAP are complete.
  • The first phase of Petlim is over and will be operated by APMT, the world’s secondlargest container terminal operator, for 28 years. It will be able to handle the world’s largest vessels.
  • The wind plant will have capacity of 51 megawatts.
  • 30,000 people are working for Socar Turkey, including subcontractors.

Source: Dunya Executive

Editor Note:
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VISITOR COMMENTS - 5 COMMENT
  1. Tatyana dedi ki:

    It is like broken record. Nothing new with these folks. We shall see you when you finish the projects in Ukraine.

  2. sibel dedi ki:

    Nasıl cari açığı kapacakmış? Türkiye’ye tanapin faydası küçük bir navlun ücreti getirmesidir. Türkiye’nin alacağı gazi daha yüksek fiyatla starak bu navlunu da bize ödettireceksin. Nasıl cari açık kapanır bununla? Bu Azeriler çocuk bile kandıramazlar. Petrolde ve gazda dışarıya bağlılık çok daha artmış ve artacak gibi gözüken bir durumda. Cari açığı kapatacağız kandırmacası ile Azerbaycan in Socar şirketine verilen imtiyazlar, Türkiye’yi dışarıya ham petrol alimi için çok daha bağımlı kılacaktır. Cari açığı düşürecek nitelikteki yatırımlar, bilhassa Petrokimya, tek bir şirketin vereceği kararlara bırakılmamalı. Bu stratejik yatırımlarda Türkiye’nin uzun vadeli planı olamazsa, büyük ciro üreten bu yabancı şirketlerin kontrolü altında olması demek, onların Türk ekonomisini belirlemesi demektir. Uzun vadede yatırım yapan Sıçar gibi yabancı şirketler paralarını dışarıya taşımak isteyeceği için, TL her ne olursa değer kaybedecek ve bizde fakirleşeceğiz demektir. Utan Socar utan.

  3. Emil Emmi dedi ki:

    Has any one thought about the disposal of waste PET bottles in land fills littered by this company? These plastic companies should be made by the government to recycle used bottles from the dumps.

  4. LeKofte dedi ki:

    These plastic production companies need to be held responsible for plastic pollution on land and sea.

    Not only do consumers need to change their behaviour, to reduce their single-use plastics – consumers also need to send the signal that they care about the issue, and want the system to change.

    Also, businesses like Petkim will need to do their part, coming up with alternative products and models to allow a low-plastic society to flourish and continue to enjoy modern conveniences. Indeed, many businesses are ready to embrace a bio-economy.

    But ultimately, it’s up to governments to create frameworks that make change possible. And it’s up to us to demand that.

  5. qxgzlycba17 dedi ki:

    Огромное тебе СПАСИБО

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