SOCAR’s investments in Turkish economy to reach $17 bln by late 2017
Investments of Azerbaijan's state oil company SOCAR in the Turkish economy will reach $17 billion until the end of 2017, Turkish HABER7 TV channel quoted Petkim Petrochemical Holding chairman Vagif Aliyev as saying on May 21.
He said about $7-$8 billion of total investments will be made in the construction of Turkey's first chemical industrial park Value-Site.
SOCAR owns the petrochemical complex Petkim Petrokimya Holding in Turkey, a container terminal and is building an oil refinery with capacity of 10 million tons a year. The company plans to begin distribution of gas and oil products in the domestic market of the country, as well as build a new gas pipeline TANAP together with Turkish partners.