Socar and BP announced the construction of a new petrochemical complex for the production of aromatics and PTA (purified terephthalic acid) in Aliagha, Izmir, Turkey.
The construction of the project is scheduled to start in 2020 and is planned to be launched by late 2023.
“Aromatics factory will produce 830,000 tonnes of paraxylene, nearly 400,000 tonnes of benzene, PTA factory will produce 1,250,000 tonnes of purified terephthalic acid,” A.S. Emil Alkhasli, project manager at SOCAR Turkey Energy said.
“The Turkish market increasingly needs 1 million tonnes of terephthalic acid. Benzene is planned to be exported,” Alkhasli said.
BP and SOCAR in late 2018 signed a Heads of Agreement (HoA) to evaluate the formation of a joint venture to build and operate a world-class petrochemicals complex in Turkey.
The investment cost of the SOCAR-BP joint project is expected to stand around $1.8 billion.
