Petkim container port to be Turkey’s largest at a cost of $400m

13 February 2012 15:29  [Source: ICIS news]

LONDON (ICIS)--The container port that is to service Petkim’s planned $10bn (€7.6bn) Aegean coast integrated petrochemical “supersite” will be Turkey’s largest and will require an investment of $400m, Petkim owner the State Oil Company of Azerbaijan (SOCAR) said on Monday.

The complex in Aliaga, near Izmir in western Turkey, will also benefit from its own power plant, to be built at a cost of $1.2bn, SOCAR added.

However the container port, to be constructed by 2014 and to have an annual container capacity of 1.5m 20ft equivalent units (TEU), and the power station will also operate for external customers, the company said.

Petkim’s port is to be operated by APM Terminals, the port operating arm of Danish oil and shipping group A P Moller-Maersk, according to a preliminary agreement signed with Petkim.

The current largest container port in Turkey is in Izmir. It has an annual capacity of 900,000 TEU.

The petrochemical complex, which will source feedstock from the on-site Star 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/year by 2023.

($1 = €0.76)

By: Will Conroy
+44 20 8652 3214

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