Air Liquide has announced €60 million investment in Turkey. The French industrial gases company has acquired three PETKIM facilities and will invest in a 400 tonnes per day ASU in Eastern Turkey.
According to the agreement, Air Liquide will acquire PETKIM’s three air gas production units in Aliaga, with a total production capacity of nearly 400 tpd. Air Liquide will also invest in a new YangO₂ production unit with a capacity of 400 tonnes of oxygen per day. Altogether, the French industrial gas firm will invest more than €60 million in the locale.
The Izmir situated unit will be designed and built by Air Liquide’s Engineering teams and is expected to be commissioned in the 2nd half of 2013. According to Air Liquide, the new facility will produce liquid gases for other industries in the area.
Hayati Öztürk, General Manager, PETKIM, commented, “The partnership with Air Liquide, the world leader in its sector, is consistent with our ‘PETKIM Value Site’ vision, which seeks to establish an integrated petrochemical park in Aliaga similar to other industrial basins around the world. We are delighted with the outcome of what we see as a major stage in our development.”
Augustin de Roubin, Vice-President South and Eastern Europe of the Air Liquide Group and member of the Executive Committee, was $quot;very pleased$quot; with the agreement. He remarked, $quot;This new investment will compliment our presence in the Ankara region of Turkey. These recent developments represent a major step for Air Liquide in this dynamic country, where we plan to reinforce our presence in the coming years. Developing economies are one of the Group’s growth drivers.”
Founded in 1965, PETKIM has 14 units at its Aliaga site producing chemical products used in the manufacture of plastic materials and textiles, among other things. SOCAR Turcas, PETKIM’s biggest shareholder, has announced plans to build a new refinery with a production capacity of 10 million tons a year at the PETKIM site. Air Liquide will also be supplying the future refinery with nitrogen.