Turkish petrochemical company to establish factory with Iranian firm

AA - The Petrochemical Holding Corp. (Petkim) of Türkiye signed a preliminary contract with the NPC International Limited (NPCI) of Iran to establish a methanol and polyethylene facilities. The polyethylene facility will have an annual capacity of 300,000 mt, while the methanol plant will have a capacity of 1,650,000 mt per annum. Petkim was established in 1965. Privatization tender of 51 percent of the public shares of Petkim through block sale method, handed over to Socar&Turcas Petrochemical at a total consideration of USD 2,040,000.000 in June 2008.