Friday, December 28, 2007

Injaz Projects' acquisition of Petkim Petrokemiya on schedule

Injaz Projects' joint venture proposal of US$2 bln to acquire a 51% controlling stake in Turkey's state-owned petrochemicals manufacturing company, Petkim Petrokemiya, is to close on schedule by the second half of January 2008. Injaz Projects - together with its partners, Azerbaijan Oil and Gas Company (SOCAR) and Turcas Petroleum - formed a joint venture group in early 2007 for the purpose of winning the Petkim tender.

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