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SOCAR may double its share in petrochemical market of Turkey

14 October 2019 12:05 (UTC +04:00)

One more construction of petrochemical complex (Mercury project) by SOCAR Turkey in Aliaga region of Izmir will increase the share of SOCAR by 35-40% in petrochemical market of Turkey, Head of External Relations of SOCAR Turkey Murat LeCompte told APA-Economics.

According to him, currently 20% of Turkey's demand for petrochemical products is covered by the Petkim petrochemical complex and the rest is covered by imports.

"The new complex will contribute in a volume of 4.5 billion U.S. dollar annually to the Turkish economy," M. LeCompte added.
He noted that the construction of the complex near the “Star” oil refinery plant and near “Petkim” (both institutions will provide the new complex with crude products) as well as the usage of shared infrastructure will be saved by 30-40%.