The port is planned to have a liquid cargo handling capacity of around 20-25 million tons, Aksoy said in an interview with the Anatolia news agency. Petkim is currently in negotiations with the “world’s biggest terminal operating company” in order to establish a joint venture for the expansion and operation of the port, he said, adding that they expect to reach a solid result from these talks by the end of the year.

The redesign of the port is still under way, Aksoy noted, underlining that the company wants to “develop a Petkim peninsula, which is expected to be built in İzmir’s Aliağa district, in a way to provide the largest contribution to the country.” Petkim is also in talks with other foreign investors over establishing an oil tank farm and electricity power station in the region, he added.

Kenan Yavuz, the CEO of SOCAR-Turcas Energy Holding, which owns Petkim, also said they envision the Petkim peninsula to develop in a way similar to that of Jurong Island in Singapore. He said Jurong Island is one the most important production hubs in the Far East even though it is less than half the size of Aliağa.