Azerbaijan, Baku, August 24 /Trend, E.Ismayilov/
In late September, SOCAR (State Oil Company of Azerbaijan) will move its office in Turkey to its new own building constructed in Istanbul, a source in SOCAR said on August 24.
The new business center of SOCAR will also be available SOCAR/TURCAS Rafineri and SOCAR/TURCAS Petrokimya.
Currently, in Turkey SOCAR is involved in several major projects. In particular, the company is co-owner of a large petrochemical complex Petkim. SOCAR is also involved in the construction of a new refinery.
In 2008, the alliance between SOCAR and Turcas Petrol / Injaz Projects has won a tender to sell 51 percent stake of chemical concern Petkim, offering $2.04 billion. Now Turkey imports 70-75 percent of the necessary chemical products. Investments of SOCAR / Turcas / Injaz to the development of Petkim will reduce imports by 30 percent.
Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC, detergents. It is the only Turkish producer of such products. The company exports a quarter of the production.