OREANDA-NEWS.  February 13, 2012.  State Oil Company of Azerbaijan (SOCAR) keeps on development of its main asset in Turkey- Petkim Holding.

The report from SOCAR says that today a preliminary agreement on creation and long term management of Petlim Limanзэlэq A.Ю. container terminal was signed in Istanbul with APM Terminals Dutch Company.

The agreement was signed by Board Chairman of Petkim, head of SOCAR’s Investment Administration Vagif Aliyev, head of  SOCAR Tьrkiyə Energy and board member of Petkim Kenan Yavuz, director of APM Terminals for Europe Martin Poulsen and Director for investments to European ports John Trenchard. Under the agreement investments to the new terminal will be fully made by late 2014. At that APM Terminals will increase capacity of the port located in Izmir by 50%.