Azerbaijan, Baku, Mar. 1 / Trend, E. Ismayilov /
SOCAR Turkey Energy will sign a contract by late March with tender winning consortium of companies for the construction of a new Star refinery in Turkey, head of SOCAR Rovnag Abdullayev told journalists.
According to him, the winner was chosen among four consortia participating in the tender. Works on the preparation of the contract are underway.
Also, according to Abadullaev, the issue of funding of the project is also being discussed.
As reported earlier, the winner of the tender is a consortium including Korean, Italian, Spanish and Japanese companies.
Up to $6 million will be directed for the construction of the refinery which will be financed partly through shareholders (30 per cent), about $1.8 billion and the rest through bank loans, a SOCAR senior representative said earlier.
The total capacity of the Star refinery is 10 million tons. Oil products produced at the plant will be transferred for meeting the needs of the Petkim chemical concern and domestic market of Turkey.