METCAP Energy Investments, based in Turkey with Qatar-based Fusion Dynamics is building a $ 4 billion chemical plant based on natural gas in Trakya basin. Turkey's current account deficit of 1 million tons of polyethylene and polypropylene production will decrease by $ 1.4 billion per year.
TURKEY-based METCAP Energy Investments by the Qatar-based Fusion Dynamics, a 50-50 partnership established METCAP Petrochemicals, pressed the button for a total of $ 5.2 billion investment in Turkey. A total of 1 million tons of polyethylene and polypropylene will be produced at the Natural Gas Chemical Facility, which will be installed in Trakya basin and where the investment of 4 billion dollars will be spent. Agreements on investments to be made through MetCap Petrochemicals, Verbena Energy and Komet Energy were signed in Ankara yesterday.
Under the agreement; In the Trakya Basin in Turkey, $ 4 billion will be implemented in a fully integrated natural gas-based chemical plant, the annual 2.6 million tons of methanol into light olefins, and will have a production capacity of 1 million tons. 400 thousand tons of polyethylene and 600 thousand tons of polypropylene will be obtained from the said products. Today, Turkey's annual consumption of 2.2 million tons of polypropylene, while if it is equivalent to the remuneration 3.1mily dollars a year. 2.1 million tons of annual consumption is imported. not unlike the situation in the field … Polyethylene 2.1 million tons per year in Turkey; in other words, about $ 3 billion in polyethylene consumption. 1.8 million tons of this part is provided through imports.
In addition to the petrochemical complex, natural gas combined cycle power plants, which will continue to operate in Kırklareli and Karaman with a total investment of USD 1.2 billion, will be one of the main activities of the partnership. The power plants with installed power of 1.550 MW are expected to operate with a net efficiency of up to 63 percent.