SOCAR Turkey Energy plans to increase export up to $5 bln 2012-08-1-

SOCAR Turkey Energy plans to increase export up to $5 bln

Exports of SOCAR Turkey Energy will amount to $5 billion by 2023, while the company's turnover is planned to be increased up to $20 billion, Anadolu agency quotes SOCAR Turkey Energy chief, Petkim petrochemical complex board member, Kenan Yavuz as saying on Monday.

He as well said that SOCAR intends to increase investments in Turkish economy up to $17 billion by 2018.

Yavuz said if to take into account that investments in Turkey's economy amounted to $15 billion from 1923 to 2002, SOCAR intends to invest $17 billion only in years.

"This is a very significant indicator of development of economic relations between Azerbaijan and Turkey," Yavuz said.

Before on March 30, SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 % stake in Petkim, increasing the stake up to 61.32 %.

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