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(News.Az) -- Azerbaijan's state oil company
SOCAR is to invest over USD 6bln in a new refinery and sea port for Turkish
petrochemicals company Petkim. SOCAR holds the majority of shares in the Turkish
petrochemicals company. The ground-breaking ceremony for the new refinery in
Izmir will be held in September or October this year, Petkim representative
Serkan Aksuyek told a press conference in Baku. He said that Turkish and
Azerbaijani officials, including the Turkish prime minister and Azerbaijani
President Ilham Aliyev, were expected to attend the ceremony.
Aksuyek said that SOCAR would spend USD 4.5-5bn on construction of the
refinery which will have an annual capacity of 10m tonnes of oil.
SOCAR is planning to invest USD 350m in a sea port in the region and
investments in all Petkim's structures will exceed USD 6bn, the representative
said. “After this, Petkim will become one of the biggest companies in Turkey and
Europe in this sphere.”
mrcplast.com
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