LONDON (ICIS news)--Turkey’s privatisation board has approved the sale of a 51% stake in state-owned petrochemicals company Petkim, according to a report on Thursday.
The commission accepted a bid of $2.04bn (€3.03bn) from a consortium of the Azerbaijani oil company Socar, Turkey’s Turcas and Saudi-based Injaz Projects, said Thomson Financial.
Petkim operates a 520,000 tonne/year cracker and produces polyolefins, aromatics, chlor-alkali products, purified terephthalic acid (PTA) and phthalic anhydride (PA) at its plants in Aliaga and Yarimka.
Petkim was not immediately available for comment.
($1 = €0.67)