LONDON (ICIS)--Sole major Turkish petrochemical producer Petkim has launched a plastics packaging plant to increase the margins it makes on output, the company said on Monday.
The plant – designed to utilise product from Petkim's low-density polyethylene (LDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), polypropylene (PP) and phthalic anhydride (PA) installations – is located at the site of the firm's petrochemical production complex in Aliaga, near Izmir, on Turkey's Aegean coast.
A substantial share of the output of the factory, built in five months, would be earmarked for export, said Petkim.
On 21 July, Petkim announced that a preliminary deal had been struck with Goldman Sachs that would see the latter buy 30% of Petkim subsidiary Petlim, a firm that is constructing a container port near Aliaga that from late 2015 will be expected to handle Petkim's exports.
Petkim did not disclose the cost of building the plastics plant but did say that in the period to 2018 it expected to spend an average $100m per year on building up and expanding the range of production capacities at Aliaga.
The producer is owned by the State Oil Company of the Azerbaijan Republic.