Turkey’s Ronesans Holding and Algerian National Energy Company Sonatrach signed a deal on Wednesday to invest a total of $1.2 billion to build a polypropylene (PP) production facility in the Cukurova region in Turkey.
Representatives from Turkey's Ronesans Holding and Algeria's state-owned energy and chemicals group Sonatrach signed the deal in Istanbul where the Industry and Technology Minister Mustafa Varank attended the signing ceremony.
The petrochemical facility is planned to have 450 tonnes of polypropylene production capacity and will decrease the country’s dependency on imports of polypropylene.
Currently, Turkey accounts for nearly 4 percent of global polypropylene consumption. Polypropylene, also known as polypropene, is a thermoplastic polymer used in a wide variety of applications in different sectors. PP is a raw material derived mainly from plastics and caoutchouc (natural rubber).
Completion of the facility is expected by 2023. During the construction phase, around between 2,000 – 2,500 people will be employed, and when operational, around 600 people will work at the facility.
The facility will be constructed in the Ceyhan Mega Petrochemistry Industry Zone located in Adana's province in the Cukurova region.
Reporting by Ibrahim Erikan,
Writing By Gulsen Cagatay