Petkim wins approval to build container port for petchem complex

03 February 2012 15:05  [Source: ICIS news]

LONDON (ICIS)--Petkim has won permission to construct a container port that is to service its planned $10bn (€7.6bn) integrated petrochemical complex on Turkey’s Aegean coast, the company said on Friday.

The Turkish environmental and urban planning ministry had agreed to issue a permit for the port in Aliaga, near Izmir, it added.

The port’s annual container capacity is to be 1m 20ft equivalent units (TEU), which exceeds the 900,000 TEU capacity of Izmir port, Petkim said.

It, along with the petrochemical complex, would be backed by what is to be Turkey's largest logistics hub, the company added.

The petrochemical complex, which will source feedstock from an on-site refinery, is to be modelled on the Jurong Island industrial zone in Singapore, which includes a chemical manufacturing cluster.

Petkim intends that the complex will enable it to double its petrochemical output to 6.3m tonnes/year before 2018, and achieve 10m tonnes of products by 2023.

The producer is a subsidiary of the State Oil Company of Azerbaijan (SOCAR).

($1 = €0.76)

By: Will Conroy
+44 20 8652 3214

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