Sasa, which aims to reduce Turkey's foreign dependency in the petrochemical sector with the inspiration it receives from oil discoveries, plans to incorporate the Gabar move into its new term plans.
İbrahim Erdemoğlu, Chairman of the Board of Directors of Sasa, which has more than 54 percent of the polyester production capacity in Turkey, invited attention to the oil exploration activities in our country and said, "I want to visit the oil wells in Gabar and learn the 3-5 year plans." Erdemoğlu, who met with a group of economic journalists at the production facilities, gave the message that Sasa could reduce production costs and is in search of access to domestic raw material resources. In this context, the investments that are gradually being made in Adana and the petrochemical facility investment in Yumurtalık, which is still in the project phase, will not only increase the growth of the company but also reduce Turkey's foreign dependency on petrochemicals. The oil in Gabar might be an important catalyst in Sasa's semi-raw material production.

They arrived at the final stage in PTA
The investments, which have been ongoing for approximately three years in Sasa's facilities in Adana, will increase the company's production capacity by 85 percent. While all the projects including PTA, chips, and fiber facilities will start operating gradually, they will all be activated in the first half of 2025. These investments will increase the annual production capacity from 1,1 million tons to 1,9 million tons after June next year. While the total cost of investments in Adana reached 4 billion dollars, Erdemoğlu expressed that those investments could not be made lower than 6-7 billion dollars under today's conditions. Sasa's target in polyester production is to reach a 5 percent market share worldwide by increasing its annual production capacity to 4,5-5 million tons.
Yumurtalık to reduce imports
The petrochemical facility Sasa plans to establish in Yumurtalık aims to substantially reduce Turkey's annual petrochemical import of 22 billion dollars. In the first phase of the total investment of 20 billion dollars, a budget of 5,5 billion dollars will be allocated. The production capacity of the facility will enable a structure that will reduce Turkey's foreign dependency through domestic production of products such as aircraft fuel, diesel, LPG, and asphalt. Erdemoğlu said, "This project will be an important step in terms of not only Sasa but also closing Turkey's current account deficit." The investment is expected to commence in 2026. The project, which is planned to be completed in a total of four phases, is expected to last 12 years. İbrahim Erdemoğlu states that the process has reached its final stage and they will start investing in 2026 after the necessary approvals.
'I would tell it if the price were high'
We asked İbrahim Erdemoğlu, who said that Sasa's price in the stock market was 'too high' two years ago, about his views on Sasa's current price level. Erdemoğlu said, “Market conditions are different now. The statement I made that day was based on the conditions of that time. I think the company's value is shaped by market dynamics. If it were higher now, I would tell it."

News Source: Milliyet News