SOCAR’s Investments in the Optimization of the Petkim Complex in the First Quarter Amounted to About $ 16 Million
Investments in the development of the Turkish petrochemical complex Petkim Petrokimya Holding in the first quarter of 2021 amounted to 131 million Turkish lira ($ 15.8 million at the current exchange rate), according to Azerbaijan in Focus, reporting Turan News, with reference to the holding.
SOCAR Turkey Enerji (Turkish subsidiary of SOCAR) owns a controlling stake (51%) of the petrochemical complex Petkim Petrokimya Holding.
In January-March 2020, investments in optimizing the activities of Petkim Petrokimya Holding amounted to 133 million TL. Thus, in the first quarter of 2021, the volume of these investments decreased by 1.5%.
The net profit of the Turkish petrochemical Petkim Holding Petrokimya in the first quarter of 2021 amounted to 891.757 million Turkish lira (TL) against a net loss for the same period last year amounting 9.781 million TL.