25 November 2009 17:30 [Source: ICIS news]
PRAGUE (ICIS news)--All necessary permits have been received for the construction of an oil refinery that will make a massive petrochemical expansion possible at Turkey's Petkim, said the company’s main owner, the State Oil Company of Azerbaijan (SOCAR), on Wednesday.
The SOCAR hoped to soon announce a 2010 start date for construction of the 10m-15m tonne/year facility on land adjacent to Petkim's coastal Aliaga petrochemical complex, which is located by the Aegean Sea near ?xml:namespace>
The refinery should supply naphtha and other feedstock to allow the doubling of Aliaga's petrochemical production of 1.9m tonnes/year, the SOCAR said.
Petkim's profits to date in 2009 had been more than satisfactory given the economic downturn, it added.
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