APM Terminals, Petkim Announce Strategic Port Development In Turkey
By Anuja Abraham
Executives from Petkim Petrokimya Holding A.Ş. (“Petkim”), Petlim Limancılık A.Ş. (“Petlim”) which is 100% owned by Petkim and APM Terminals signed a Heads of Terms agreement which outlines key terms of a definitive agreement to be negotiated and signed between Petkim, Petlim and a to be incorporated Turkish affiliate of APM Terminals for the long-term operation of Petkim Port, located in Aliağa, near the city of Izmir on the Aegean Coast of Turkey.
The contract negotiations are still ongoing and further developments will be made public upon completion.
SOCAR President Rövnag Abdullayev said “We announced our vision for the Petkim peninsula as a Refinery-Petrochemicals-Energy-Logistics integration.. In order to meet the growing future needs of refinery and our other investments, we keep going on our power production projects. Thereby we will mostly have finished our vertical integration in Petkim Peninsula by 2015. We have taken strategic steps to execute our vision for Petkim Port as Turkey’s best logistics center in the Aegean region.”
CEO of APM Terminals, Kim Fejfer, stated “Turkey is a very important high growth market which we are very pleased to enter together with SOCAR, a strong and well respected business partner. We look forward to establishing a long term presence in Turkey and are very happy with this first development.”
APM Terminals’ CEO Europe Region, Martin Poulsen, added: “Petkim’s Port’s location, its market access and natural deep water are a winning combination that will redefine Turkish ports. We are excited to partner with Petkim and tap their national scale and success to make Petkim Port a strong economic growth engine for the country and the regional economy.”
