SOCAR Turkey and BP agree on creation of a new petrochemicals JV in Turkey

16:15 - 20.12.2018

December 20, Fineko/abc.az. BP and SOCAR Turkey have signed a heads of agreement (HoA) to evaluate the creation of a joint venture that would build and operate a world-scale petrochemicals complex in Turkey.

According to BP, the JV will be established in a special industrial zone in Aliaga, where refinery STAR and petrochemical complex Petkim are operating.

"The proposed facility, in Aliaga in western Turkey, would produce 1.25 million tons per annum (tpa) of purified terephthalic acid (PTA), 840,000 tpa paraxylene and 340,000 tpa benzene," it was reported.

The parties plan to take the final investment decision in 2019 and put the new enterprise into operation in 2023.

 

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