Akkim Completes USD 100 Million Investment

Akkim Invests USD 100 Million Akkim Kimya, in its 45th year, continues its investment programme. The company, which has launched investment in Turkey's first epoxy resin production facility with a USD 100 million investment budget in Yalova, will contribute approximately USD 200 million annually to reducing the current account deficit by replacing imports in this sector. Akkim Kimya, a subsidiary of Akkök Holding and a leader in basic chemicals in Turkey, added another strategic investment to its 2022 portfolio. The company, which opened a new facility in Nazilli last month to operate in food additives production, will begin manufacturing epoxy resins, raw materials and formulated derivatives in Yalova. Under this scope, a new factory with 50,000 square meters will be constructed at Akkim's Yalova campus, integrated with its chlor-alkali facilities, with an investment of USD 100 million.

"Will reduce current account deficit and increase employment"

Onur Kipri, General Manager of Akkim Kimya, stated that the new facility will have a total production capacity of 100,000 tons. Kipri said the facility will commence production in January 2024, adding: "With our facility, which will be the first of its kind for Turkey and neighbouring countries by providing a raw material carrying strategic value in many sectors to Turkish industry, we will produce annually 50,000 tons of liquid and solid epoxy resins along with formulated derivatives. Additionally, with the aim of creating competitive advantage, we will produce 25,000 tons each of epichlorohydrin and glycerin, which are our raw materials. This way, we will create significant export potential and foreign exchange income potential for our country. While substituting annual imports of up to 50,000 tons and supporting the reduction of the current account deficit with approximately USD 200 million per year, we will also create 100 new jobs," he said.

Wastewater to be recycled as a saline water source

The epoxy resins that Akkim Kimya will begin producing are used as strategic inputs in industrial paints, electrostatic powder coatings, aerospace and defence industry, wind turbine blades, electrical and electronics sectors as well as all composite applications. Instead of petrochemical derivatives common worldwide, products using plant-based and natural resources are referred to as "Green Epoxy Resins" in Europe. At the facility where licensing and engineering work commenced in April, a licensing and technology transfer agreement was signed with Austrian engineering company "Kanzler Verfahrenstechnik GmbH (KVT)" for the use of "Epiprovit" process technology designed with "Zero wastewater" specifications. With "Epiprovit" technology, Akkim will implement an environmentally friendly investment in line with its sustainability commitments. All wastewater from the facility will be purified through a special treatment system and recycled as a saline water source at Akkim's chlor-alkali facilities.