The consortium that recently acquired Turkish state-owned chemicals company Petkim (Aliaga / Turkey; www.petkim.com.tr) has announced that it is to invest an additional USD 3bn over the next five years, doubling the company’s capacity. The consortium, comprising Turkish energy business Turcas, Saudi-based investor Injaz and Azerbaijan state oil company Socar, paid over USD 2 bn for the company in May – see Plasteurope.com of 01.04.2008 – following a dispute with the Petrol-Is workers union, which took legal action in an attempt to prevent the deal going through.

Petkim produces a range of petrochemical products including ethylene, LDPE, HDPE and downstream vinyl chloride derivatives.