SOCAR Turkey Enerji head: Additional investments to be made in construction of refinery in Turkey
Baku, Azerbaijan, Nov. 28
By Rufiz Hafizoglu - Trend:
An additional $475 million will be invested in the construction of an oil refinery in Turkey, head of SOCAR Turkey Enerji (Turkish division of the State Oil Company of Azerbaijan), board member of Petrochemical Holding Petkim Kenan Yavuz said, NTV TV channel reported on Nov.28.
According to Yavuz, this is the largest one-time investment that has been invested in the Turkish economy.
He also stressed that SOCAR Turkey Enerji ranks second in industrial production sphere in Turkey.
SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.68 per cent is in free circulation on the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.