EIB to allocate $80 million to Petkim

Baku, May 6, AZERTAC The European Investment Bank will allocate $80 million to Petkim Petrochemical Holding to turn the Petkim port’s capacity into an international container terminal. The EIB delegation paid an official visit to Turkey. The delegation is planned to meet with the leading companies and banks of Turkey to sign 7 new agreements worth €800 million. Petkim, in which SOCAR has a share of 61.32 percent, produces plastic packages, fabric, detergents and is the sole Turkish manufacturer of such products, a quarter of which is exported. By the end of 2015 Petkim’s assets increased. Its net profit stood at 639.2 million liras in 2015.