Goldman Sachs ready to finance SOCAR's infrastructure, industrial projects
Baku, Azerbaijan, June 1
Goldman Sachs International is interested in financing SOCAR's infrastructure and industrial projects around the world. The working group established by the companies plans to conduct research in this area.
This was stated at a meeting of SOCAR President Rovnag Abdullayev and the company's management with the executive directors of the investment company Goldman Sachs International, Sarel Eldor, Yakut Seyhanli and Anton Sychev, said SOCAR in a statement released on Friday.
This year a number of important SOCAR projects are being completed, including the STAR oil refinery, one of whose shareholders is Goldman Sachs International and the TANAP pipeline.
Successful results achieved by SOCAR give impetus to further cooperation, so SOCAR will conduct joint analysis and research with Goldman Sachs to determine the principles of partnership in current and future projects.
The meeting mentioned the possible role of Goldman Sachs International in financing SOCAR's trade operations, which are expanding around the world and in Turkey.
Cooperation of SOCAR with Goldman Sachs International started in December 2014.
In 2015, Goldman Sachs spent $1.3 billion on acquisition of 13 percent of SOCAR Turkey Energy A.S. - a subsidiary of SOCAR.
The Goldman Sachs head office is located in New York. The company operates in the field of bank investments, securities and investment management.