Posted by meb at June 2nd, 2008

Socar-Turcas-Injaz consortium that took over the 51 pct shares of Petrochemical Holding Co. (Petkim) on Friday, promised to invest at least 3 billion USD more in the next 5 years.

Socar-Turcas-Injaz plans to set up an oil refinery in Ceyhan town, an energy hub in southern Turkey, head of the consortium told reporters at the takeover ceremony.

Erdal Aksoy said the consortium would not dismiss any of the employees at Petkim and it aimed to double the capacity of the petrochemicals company.

Socar-Turcas-Injaz took out 625 million USD of loans from two Turkish banks, Akbank and Garanti, Aksoy said.
source: The New Anatolian

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