Azerbaijan, Baku, June 2 / Trend E.Ismayilov /
A refinery of the State Oil Company of the Azerbaijan Republic (SOCAR) outside the Turkish Petkim petrochemical complex will be built by late 2014-early 2015, Petkim General Manager Mehmet Hayati Ozturk told Trend. SOCAR is a Petkim co-owner.
He added that all the necessary procedures have been taken and a license will soon be provided to start building the plant.
"If the license is received, the plant will be ready by late 2014-early 2015," he stressed.
The plant's capacity should be 10 million tons per year. Approximately 30-40 percent of the plant's production will be used as feedstock for the petrochemical industry. The remainder will replace diesel and aviation kerosene imported to Turkey, Ozturk said.
He noted that around $4 billion will be spent on this project.
Earlier, the company completed the feasibility study on building the refinery. Earlier the Turkish government also approved a report on its environmental impacts, which is required for construction.
The Turkish Administration for Privatization approved the SOCAR/Turcas Petrol/Injaz Projects alliance as the winner of a tender on the sale of a 51-percent share in Petkim. Turkey imports 70-75 percent of its chemical products, while Petkim will ultimately provide the chance to decrease imports to 30 percent.
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