BAYEGAN COMMENDED BY PRESIDENT ERDOĞAN FOR POLYPROPYLENE INVESTMENT IN TÜRKIYE
BAYEGAN featured prominently at the launch of the "HIT-30: High Technology Investment Program," in a ceremony attended by President Recep Tayyip Erdoğan.
President Erdoğan awarded certificates of appreciation to the top 10 companies with the highest investments, including BAYEGAN for its Polypropylene Production Facility initiative.
The program, aimed at positioning Türkiye as the focal point for high technology investments while enhancing the advantages of high technology and value-added new investments, was officially inaugurated by Minister of Industry and Technology Mehmet Fatih Kacır.
BAYEGAN Chairman Ercüment Bayegan, who received the certificate from President Erdoğan, stated: "It is extremely gratifying to receive such an important certificate of appreciation from our President. As he mentioned, we are also eager to attract more high-tech investments to Türkiye. In the integrated polypropylene facility that we will establish in Hatay we will use raw material processing technologies and value-generating energy solutions, including propane dehydrogenation (PDH) and polypropylene (PP) units. With this investment, we aim to meet demand for high-quality polymers in Türkiye and reduce the country’s dependency on polymer imports."
Highlighting that Türkiye is the world's second-largest polypropylene importer after China, with an annual market size of 2-2.5 million tons, Ercüment Bayegan also emphasized that polypropylene is a vital product for many industries and has an increasing global demand. Mr Bayegan further stated: "In our planning, we will ensure a thorough and seamless integration of all components involved in our investment, in line with our vision for a sustainable venture. We are committed to adhering to the highest standards in terms of quality and efficiency at every stage and we aim to establish a solid foundation for our future endeavours."
As one of Türkiye’s largest polypropylene distributors, BAYEGAN aims to enhance its existing business and contribute to the efficiency and resiliency of the regional supply chain with this investment.
The company BY POLİMER will produce polypropylene, a petrochemical product for which Türkiye is 95%-dependent on foreign sources. With an annual manufacturing capacity of 450,000 tonnes of polyproplyene, the facility is expected to supply approximately 20% of Türkiye’s polypropylene demand which will have approximately around $500 million positive impact on balance of trade.