Turkey's integrated petrochemical plant Petkim, a subsidiary of SOCAR Turkey, made a 2019 record with petrochemical production of 3.4 million tons, a statement from the company said Monday.
Production at the company, located in the Izmir province in the Aegean region, increased by 24% compared to 2018, according to the statement.
Petkim's income reached 11.67 billion Turkish liras with a 25% increase while the company's net profit stood at 764.2 million liras in 2019.
"The integration of STAR Refinery contributed to the results in a positive way," Anar Mammadov, head of SOCAR Turkey refining and petrochemicals department was quoted as saying in the statement.
He said that Petkim received 759 thousand tons of naphtha from the STAR Refinery, which became fully operational in 2019 with an investment of $6.3 billion by SOCAR Turkey.
STAR Refinery and Petkim are located in the same area in the Aliaga region of Izmir.
"Instead of importing naphtha from different parts of the world, we now take it from STAR Refinery via pipeline thus increasing our efficiency, security of supply and operational capability," Mammadov said.
US$1 equals 6.22 Turkish liras at 09.35 GMT on Monday.
By Nuran Erkul Kaya