Exports of SOCAR Turkey Energy will amount to $5 billion by 2023, while the company's turnover is planned to be increased to $20 billion, Trend quotes SOCAR Turkey Energy head and Petkim petrochemical complex board member Kenan Yavuz as saying on Monday.
He also said that SOCAR intends to increase investment in the Turkish economy to $17 billion by 2018. Yavuz said that, taking into account that investment in Turkey's economy amounted to $15 billion from 1923 to 2002, SOCAR intends to invest $17 billion in only six years.
"This is a very important indicator of the development of economic relations between Azerbaijan and Turkey," Yavuz said. Previously, on March 30, SOCAR Turkey Energy A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim, increasing their stake to 61.32 per cent.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents, being the only Turkish producer of such products, a quarter of which the company exports.
