Mustafa Oztaskin, head of Petrol-Is, which represents employees in the oil and gas sector appealed to Turkey's top administrative court to cancel the planned sale of a majority stake in Turkey's petrochemicals giant Petkim. The leader does not believe in the benefit and public good of this privatization. Petkim has invested US$350 million in equipment over the past three years and was profitable. He also questioned the financial stability of the buyers. The protest was against the acquisition on Petkim by Transcentralasia Petrochemical Holding, a Kazakh-Russian consortium, that outbid other conglomerates and offered to pay US$2.05 billion (€1.5 billion) for a 51% stake.
09-Jul-07 
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