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PM: Refinery construction in Turkey to develop country's economy

Oil&Gas Materials 25 October 2011 17:13 (UTC +04:00)
The construction of a new refinery in Turkey with SOCAR's participation will give development dynamics to the country's economy, Turkish Prime Minister Recep Tayyip Erdogan said today at a foundation laying ceremony.
PM: Refinery construction in Turkey to develop country's economy

Azerbaijan, Baku, Oct. 25 / Trend , A.Tagiyeva /

The construction of a new refinery in Turkey with SOCAR's participation will give development dynamics to the country's economy, Turkish Prime Minister Recep Tayyip Erdogan said today at a foundation laying ceremony. Azerbaijani President Ilham Aliyev also attended the ceremony, Turkish TV channel TRT Haber reported on Tuesday.

The foundation of a new refinery has been laid in Turkey today. It is designed to provide petrochemical complex Petkim with raw materials. SOCAR has equity participation there.

"This investment will intensify the cooperation between two countries," Prime Minister said.

Erdogan said that the establishment of a new refinery will create jobs for about 1,000 people. About 10,000 people will be involved in constrcution.

Azerbaijan and Turkey are linked by many projects, including the project for Azerbaijani oil supplies via the Baku-Tbilisi-Ceyhan pipeline. Moreover, the project of opening the railway communication via the Baku-Tbilisi-Kars is at the final stage, Erdogan said.

The new oil refinery costs $5.5 billion and the total capacity is 10 million tons. Oil products produced at the plant will be used to meet Petkim and the Turkish domestic market's needs, as well as countries of the Mediterranean region.

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