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Azerbaijani FM: Russia has offered a phased solution to the Nagorno-Karabakh conflict

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Konstantin Kosachev: Turkey's stance on Karabakh encourages of one the sides to the conflict to continue it

Azerbaijan continues violating ceasefire arrangements

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SCR: Number of railway casualties in Armenia keeps increasingly growing

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Nikol Pashinyan: Opposition exaggerates Electoral Code's role in holding fair elections

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Nagorno-Karabakh Defense Army presented evidences of rocket bombardment of Mataghis by Azerbaijani armed forces

Central Bank of Armenia approves merger agreement of ProCredit Bank and INECOBANK

Stratfor forecast: Military escalation will continue to be a possibility in Nagorno-Karabakh, with effects that reach far beyond the bounds of the small contested territory

EU supports peaceful resolution of Karabakh conflict, Malena Mard says

Azerbaijan's armed forces fire more than 240 rounds at Karabakh positions and target Mataghis populated area overnight

Armenia's Defense Ministry: Azerbaijan shells at state border with Armenia

U.S. Department of State: We have remained in contact with both governments and we need to see the peace process back up and running as soon as possible

Manvel Sargsyan: Armenia due to reconsider fundamentally its 20-year-long policy towards Russia

Regional

Petkim Petrochemical Plant Obtained Privileges from Turkish Government

  • Thursday, January 10, 19:45

 Baku. Petkim petrochemical complex has obtained a certificate for tax remissions as a part of the investment stimulation program from the Turkish Ministry of Economic Development. SOCAR bought the control amount of shares (50%+1 share) of Petkim in May 2008, reported Petkim's press office.

The press office quotes Sadetdin Korkut, General Director of Petkim, that the "Turkish Ministry of Economic Development has complied with Petkim's request, to provide tax remissions for the purpose of increasing the production capacity and produce new types of products." Korkut said that the decision would give a new impetus to development of the industry and increase the volume of manufactured products. As soon as new tax remissions are introduced, annual production capacity of the complex will increase by 13% and the manufacture of products will increase from the current 3.2 up to 3.5 million tons. Korkut also added that the new tax remissions would help to reduce product cost and turn Petkim into one of the biggest petrochemical complexes.  * On March 30, 2012 Socar Turkey Enerji A.S. and SOCAR International DMCC OGG bought 10.32% shares of Petkim and increased their share to 61.32%.  There is 38.67%  in free circulation at the Istanbul Stock Exchange.

 

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