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Azerbaijani investors to construct new plant in Turkey

7 October 2016 17:16 (UTC+04:00)
Azerbaijani investors to construct new plant in Turkey

By Nigar Abbasova

Investors from Azerbaijan, which are among the top foreign investors in Turkey, plan to construct a new petrochemical plant in the country’s eastern Van province.

Van Governor Rahmi Dogan told the Hurriyet newspaper that the new plant will have a brand-new technology and allow to open up some 100 new working places.

He also said that all necessary raw materials, including liquefied petroleum gas, (LPG), will be delivered through the Baku-Tbilisi-Kars railway. BTK, which is currently under construction, is expected to bring huge incomes to the sphere of logistics in Turkey.

The volume of Azerbaijani investments in Turkey currently amounts to $8 billion, while major portion of investments falls to a share of energy sphere.

Azerbaijan’s Economy Minister Shahin Mustafayev earlier said that the country will increase investments in Turkey up to $20 billion until 2018, while the figure is expected to become Azerbaijan's largest investment abroad.

Currently, more than 1,700 Azerbaijani companies operate in Turkey. Economic projects, jointly implemented by Azerbaijan and Turkey, bring the two countries together strengthening their bilateral cooperation.

The two countries are connected by several important regional projects, such as Baku-Tbilisi-Ceyhan oil pipeline, Baku-Tbilisi-Erzurum gas line, TANAP.

Moreover, Azerbaijan's energy giant SOCAR is involved in a number of major investment projects in Turkey.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz

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