SOCAR to increase investments in Turkey’s economy
Exports of SOCAR Turkey Energy will amount to $5 billion by 2023, while the company's turnover will reach $20 billion, Anadolu agency quoted SOCAR Turkey Energy head, Petkim petrochemical complex board member, Kenan Yavuz, as saying on Monday.
He said SOCAR intends to increase investments in Turkish economy up to $17 billion by 2018.
"This is a very important indicator of the development of economic relations between Azerbaijan and Turkey," Yavuz said.
Earlier in March, SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim, increasing their stake to 61.32 per cent.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC, detergents and is the only Turkish producer of such products, 25 percent of which the company exports.
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