ECONOMY


Turkish Petkim petrochemical complex’s assets increase

Baku, March 3, AZERTAC

As of January 1, 2017, the assets of Turkey'sPetkim petrochemical complex increased by 14.8 percent and stood at 6.27 billion Turkish lira (official exchange rate on March 3 is 3.6816 TRY/USD) as compared to 5.46 billion lira in 2015, Petkim said in a message posted on its website March 3.

According to the message, Petkim's net profit increased by 14.5 percent and reached 731.7 million lira in 2016 as compared to 2015.

The share of the State Oil Company of Azerbaijan (SOCAR) in Petkim is 52.32 percent, other shareholders’ share - 40 percent, the share of the US Goldman Sachs investment bank - 7.68 percent.

Petkim produces plastic packaging, detergents and is the sole Turkish producer of such products.

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