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SOCAR’s investments in Turkish economy to reach $17 bln by late 2017

21 May 2013 14:45 (UTC+04:00)
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.

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