Turkey's unique petrochemicals producer PETKIM has achieved the highest production figures of 45 years in 2010.
Speaking to Anadolu News Agency on Thursday, Kenan Yavuz, Executive Director of Socar & Turcas, said that Petkim started to see the positive results of its recent improvement and capacity increase investments in 2010, adding it closed the year with a progress above its expectations.
"In 2010, Petkim has achieved the highest production figures of its 45-year history. The capacity utilization rate of our factories reached 98 percent and our production hit a record level. Our turnover is much higher than we expected and we have reached our targets in terms of profitability," he said.
Yavuz noted that next 4 years would be even more successful than the 2006-2010 period for his company.
The executive said that PETKIM, in addition to its refinery investment, would also invest in renewable energy projects such as wind and solar energy.
He said the company planned to start the construction of its refinery in the first half of 2011 and complete the work in 2014.
Noting that PETKIM had recruited 800 new technicians and engineers in the last 3 years, Yavuz said the company would hire 200 more technicians and engineers every year up until 2015, moreover, it would offer employment opportunities for nearly 10,000 people within the scope of the refinery project.
PETKIM is the leading petrochemical company of Turkey. Founded on April 3, 1965, the main plant complex is located in Yarimca in the northwestern province of Izmit. From 1985 on a second complex has been constructed in Aliaga in the western province of Izmir.
The company supplies a significant portion of petrochemicals used in Turkey. Its products are an important input for construction, electricity, electronics, packaging, textile, medical, dying, detergent and cosmetic sectors. The company also exports products to the United States, and countries in Europe, the Middle East, Africa and Asia. PETKIM is listed on the Istanbul Stock Exchange.
At the end of 2006, Socar & Turcas joint venture won the privatization tender for the sale of 51 percent of the shares of PETKIM, the most important privatization project in Turkey in 2007. The company acquired the controlling shares on May 30, 2008 by paying over 2 billion USD to Turkey's Privatization Authority.