APM Terminals announces port development in Turkey
APM Terminals has signed an agreement with Petkim Petrokimya, a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR,) for the long-term operation and development of Petkim Port, located in Aliaga, on the Aegean Coast of Turkey.
SOCAR President Rövnag Abdullayev said that in October 2011 the company had announced its vision for the Petkim peninsula "as a Refinery-Petrochemicals-Energy-Logistics integration." He added, "We continue our investment projects to produce new petrochemical products and high value-added products within Petkim. 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 centre in the Aegean region. Another world leading company has joined us in the Turkish market. We welcome APM Terminals and their vast expertise in global terminal operations".APM Terminals' CEO Europe Region, Martin Poulsen, said: "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".