Azerbaijan, Baku, Apr.5 / Trend, E. Ismayilov /
The Turkish Petkim petrochemical complex, co-owned by the State Oil Company of the Azerbaijan Republic (SOCAR), sold petrochemical products worth about 2.06 billion Turkish lira (over $1.35 billion) in 2009 compared to 2.32 billion lira (about $1.53 billion) in 2008. The figure was 2.18 billion lira in 2007, 2.22 billion lira in 2006, and 1.34 billion lira in 2005.
The petrochemical complex's net profit in 2009 was over 114 million lira (over $75 million) compared to losses of $151 million lira (over $99.6 million) in 2008. In 2007, Petkim's net profit was 73.86 million lira compared to 58 million lira in 2006. In 2005, losses were 98.5 million lira.
Investments in 2009 totaled 69.86 million lira compared to 70.27 million lira in 2008. In 2007, investments were 72.49 million lira compared to approximately 96.9 million lira in 2006.
Depreciation costs in 2009 were 99 million lira compared to 107 million lira in 2008. Petkim's financial debt in 2009 was 87.73 million lira compared to 28.85 million lira in 2008.
In 2009, the petrochemical complex's assets exceeded 2.11 billion lira ($1.4 billion) compared to 1.7 billion lira ($1.12 billion) in 2008. In 2005, the figure was 1.8 billion lira ($1.2 billion).
The Turkish Administration for Privatization formerly approved the SOCAR/Turcas Petrol/Injaz Project alliance as the winner of a tender selling a 51-percent share of Petkim. Turkey currently imports 70-75 percent of the necessary chemical products. However, by developing Petkim, the investment from the SOCAR/Turcas/Injaz alliance will provide the opportunity to decrease imports up to 30 percent.
Petkim specializes in the production of plastic packages, fabric and detergents, and is the only producer of these goods in Turkey, exporting one-fourth of the output.
Petkim holds 25 percent of the Turkish market.
