Qatar Petroleum could may bid for chemicals maker Petkim Petrokimya Holding AS, an is evaluating the deal which the Turkish government is offering for a minimum US$500 million after two failed sales. Turkey invited bids for a majority stake in Petkim after failing to sell the company in 2003 and 2004. Information on Petkim has been passed to the QP International division by the Qatar petrochemical unit (Qapco), which is considering the investment. Bids are due by June 15. Annual profit at Petkim totaled $41 million after expanding a plant and cutting jobs and energy costs.
Expansion is being planned by Middle Eastern petrochemical makers to benefit from abundantly available cheap natural gas. In line with this, Qapco is also seeking investment opportunities in China and India.
23-Mar-07 
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