Turkey to give Petkim privileges

The Turkish government will free the Petkim chemical facility from VAT and customs fees, reducing overall taxing of the system by 90%, and will get free minimal insurance for its staff for 7 years.

Petkim manufactures plastic products, cloth, detergents and exports a quarter of its products. Socar Turkey Enerji A.Ş and SOCAR International DMCC OGG purchased Petkim shares on March 30, increasing share to 61.32%. 38.67% of them are in free circulaton at the Istanbul Exchange.