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Head: SOCAR Turkey Enerji to become country’s most profitable company by 2023

Tuesday, October 29
SOCAR Turkey Enerji intends to become the country's most profitable company by 2023, the head of SOCAR Turkey Enerji and board member of the Petkim Petrochemical Holding Kenan Yavuz told, Aksham newspaper reported on Monday.

According to him, currently SOCAR Turkey Enerji is the largest investor in the history of Turkey.

It is expected that company's export of chemical production will total to $ 5 billion by late 2013, he stressed.

Earlier Yavuz told Trend that the total income of SOCAR Turkey Enerji and its subsidiaries will exceed $15 billion.

"Taking into account its total income, SOCAR Turkey Enerji is the third company in this sphere in the country after Koc and Sabanc? Holding," Yavuz said.

SOCAR Turkey Enerji ranks second in the field of industrial production in Turkey.

One can say that SOCAR Turkey Enerji is ahead of Sabanc? Holding in the field of industrial production, he said.

SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.68 per cent is in free circulation on the Istanbul Stock Exchange.

Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.