21 March 2012 12:56 [Source: ICIS news]
LONDON (ICIS)--Two bids have been received for the Turkish state’s remaining 10.32% stake in Petkim, the country’s sole major petrochemical producer, the state Privatization Administration (OIB) announced on Wednesday.
Prior to the deadline for sealed bids at 4:00pm Turkish time on Tuesday, two offers had been submitted, one by the State Oil Company of the Azerbaijan Republic (SOCAR), which already holds 51% of Petkim through the SOCAR & Turcas joint venture, said OIB.
The other tender came from the Turkish plastic packaging company Naksan Plastik.
Petkim is building a $10bn (€7.6bn) petrochemical “supersite” in Aliaga, near ?xml:namespace>
SOCAR is currently assisting in raising up to $4bn in long-term loans to finance the SOCAR & Turcas Aegean Refinery (STAR), a planned installation within the existing Petkim site with a 10m tonne/year processing capacity, that would provide feedstock to the complex.
($1 = €0.76)
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