MOSCOW (MRC) -- Turkish petrochemicals major Petkim Petrokimya Holdings (Aliaga, Turkey, part of SOCAR) has established Petkim Specialties, a subsidiary for engineering plastics and advanced chemicals, reported Chemical Week.
The subsidiary will operate a production unit with 14,000 mt/year of plastics capacity.
Petkim initially plans to invest up to USD5 million to buy machinery and equipment to increase the plant's capacity to 24,000 mt/year of plastics.
In all, Petkim has earmarked a budget amounting to up to USD100m a year until 2018 to boost the capacities of its existing petrochemical plants.
As MRC wrote before, in 2014, Petkim staged an official opening for a new plastic packaging factory at its petrochemical complex in the western Turkish town of Aliaga. The factory was built in five months, the bulk of its output will be exported. Petkim is constantly investing in new facilities, as well as in expanding the capacity and raising the efficiency of the existing ones, its general manager Sadettin Korkut said.
Petkim is the leading petrochemical company of Turkey. Specializing in petrochemical manufacturing, the company produces ethylene, polyethylene, polyvinyl chloride, polypropylene and other chemical building blocks for use in the manufacture of plastics, textiles, and other consumer and industrial products.