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EOC President: Presence of Armenia at inaugural European Games in Baku demonstrates how sport can give a lead to politicians

Elmar Mammadyarov: Azerbaijan will settle Nagorno Karabakh conflict in any case

Edward Nalbandian on Riga Summit: Armenia's Expectations Delivered

Aliyev: Azerbaijan Aspires to Resolve the Armenian-Azerbaijani Conflict over Nagorno-Karabakh in Accordance with International Law

Armed forces of Azerbaijan fired over 3,500 shots at Karabakh positions on May 17-23

Azeraijan's vetoing the Riga Summit declaration was a senseless and shortsighted step, Martin Schulz says

Russia and Azerbaijan to Discuss Settlement of Nagorno-Karabakh Conflict

Edward Nalbandian: Azerbaijan again Left Isolated in Respect of Support to the Mediation Efforts by the Co- Chairs of the Minsk Group

Armenian National Congress calls on the citizens to join the campaign against rising energy costs on May 27

Armenia's simultaneous cooperation with NATO and CSTO creates no problems, a German official says

Orange Foundation continues community development projects in Syunik region

"Rusastanyan 20" and "Rusastanyan 35" Beeline services available for postpaid subscribers

American Congressman: Menace of Terrorism and Radical Islam might Unite Armenians and Azerbaijani

Diplomatic source: Final declaration of Riga summit should be a consensus document that would refer to the views of Armenia and Belarus

"No to Robbery" to hold a motor rally on May 23

Belgian prime minister says Armenian Genocide did happen and no one in Belgium thinks differently about it

VTB Bank (Armenia) offers "Super-rate" offer - conscientious borrowers regain 10% of the loan interest paid

"Eastern Partnership" Declaration Unanimously Adopted with only UN Countries Endorsing the Wording on "Annexation of Crimea"

Latvian FM says Armenia and Azerbaijan can claim visa liberalization with EU, if they meet all the necessary requirements

European Commissioner: Cross-border cooperation between Armenia and Azerbaijan to open up new opportunities for Karabakh conflict settlement

OSCE Planned Monitoring: Azerbaijan fails to lead monitoring mission to frontline

William Lahue: NATO's Cooperation with Partners not Against Russia's Interests

ESCAP Forecasts 0.9% Growth of Armenia's Economy and 4.7% of Inflation

President of Armenia: Nagorno Karabakh has no relation whatsoever to Azerbaijan's territorial integrity

Conditioned by Wording on Artsakh Azerbaijan Refused to Sign "Eastern Partnership" Declaration

Ara Nranyan stresses the need to avoid unreasonable stimulation of import and regressive closure of markets

The Number of Operating Air Carriers in Armenia Decreased from 35 to 27 since the "Open Skies" Policy Implementation

30 people interrogated under case of attempted assassination of Syunik Governor

Edward Sharmazanov: Genocide of Armenians, Pontics and Assyrians is a Disgraceful Page of Human History

Armenian-German Forum has been Launched in Bundestag

Ashot Ghulyan Re-elected as Speaker pf Artsakh Parliament

South Caucasus Railway launches sale of Yerevan-Batumi-Yerevan tickets

Businessman Tigran Karapetyan to Bring Suit against Adviser to Syunik Governor for Slander

Azerbaijan Trying to Hinder the NATO Seminar in Yerevan

Armenian Government Endorsing a Draft Document with Microsoft

German Chancellor says Germany respects Armenia's point-of-view

Human rights defender: To fight tortures of suspects, legislative reform is needed in Armenia

Polish MP says friendly relations with Armenia have always been important to Poland

Oppositionist slams Prosecutor General for concealing Syunik Governor's crimes

Armenian delegation participates in NATO Military Committee meeting in Brussels

European Organizations to Allocate about 8.07 Mln EUR to Armenia for Garbage Collection

Reuters: As Armenia and Belarus refuse to sign up the statement on Crimea, EU diplomats say compromise text would be put to them

Dunja Mijatovic: In Armenia, Azerbaijan, and Belarus freedom of media under threat

Shootings Towards Syunik Governor's Car

On May 21 Serzh Sargsyan Will Leave for Latvia to Participate in the Riga Summit

Armenia among Eurovision finalists

Howard Stevenson: We believe investments like Amulsar will be key to raising the bar

VTB Bank (Armenia) funds construction of Progress Agro greenhouse facility

U.S. Ambassador Marks International Day Against Homophobia

"Ecotomato" Company's New Greenhouse was Opened with Financial Support from VTB Bank (Armenia)

Petkim Petrochemical Plant Obtained Privileges from Turkish Government

  • Thursday, January 10, 13:45

 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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