Turkish petrochemical complex Petkim announces tender to privatize part of shares

Azerbaijan, Baku, Feb.6 / Trend A.Taghiyeva / Turkish petrochemical holding Petkim has today announced a tender to privatize 10.32-percent of the company's shares owned by the state, the Resmi Gazete reported on Monday. Initial cost of shares is estimated at $3 million. All applications to participate in the tender should be submitted before March 20, 2012. SOCAR is a party in the joint venture - co-owner of the Petkim petrochemical complex. Previously, SOCAR Turkey Enerji began construction of a new oil refinery in Turkey to meet Petkim's needs of raw material. Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC, detergents, being the only Turkish producer of such products, a quarter of which the company exports. At present, the share of Petkim on the petrochemical market is 25 percent, but as a result of the work done, it will increase up to 40 percent. Do you have any feedback? Contact our journalist at agency@trend.az