State-owned oil and gas company Sontrach will invest $ 1.3 billion in a mega-project in Turkey as a joint venture with Ronesans Holding.
The project consists of the installation of a polypropylene production plant in the Ceyhan industrial area, located in Adana in southern Turkey. According to Reuters, a presentation of the project was given yesterday Wednesday at a press conference.
With a production capacity of 450,000 tons annually, this investment will allow Turkey to drastically reduce its imports of polypropylene, according to the newspaper Dailysabah. Over a period of 15 years, Sonatrach is expected to supply propane gas at the facility.
Present at the signing of the agreement, Mustafa Varank, Turkish Minister of Industry and Technology, called the project “important” for his country.
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