Baku, Azerbaijan, Aug. 31
By Maksim Tsurkov - Trend:
SOCAR Turkey Enerji plans to start production at the Star refinery in March 2018, SOCAR Turkey Enerji head Kenan Yavuz told reporters.
He said that the cost of the Star refinery construction is $5.6 billion.
"Some $ 3.2 billion was invested by 23 international and local banks, and $2.4 billion by SOCAR (State Oil Company of Azerbaijan)," he said. "Moreover, Petkim is expected to acquire an 8 percent stake in Star refinery."
He said the plant would be constructed by 2018.
"Some 29 percent of the construction work has been completed," he said. "The amount of investments is $2 billion. Some $ 300 million of this amount was paid by the banks at the expense of the project financing. Some 10,000 people will work at the refinery at the investment stage until the end of 2017. It is planned to start production at the plant in March 2018. After commissioning, some 1,000 people will be provided with jobs on a permanent basis."
The annual naphtha production volume, used by Petkim as the main raw material, will hit 1.66 million metric tons at the STAR refinery.
Along with naphtha, the new oil refinery will produce diesel fuel with ultra-low sulfur to the amount of 5.95 million metric tons, aviation kerosene - 500,000 metric tons, reformate - 500,000 metric tons, petroleum coke - 630,000 metric tons, liquefied gas - 240,000 metric tons, mixed xylene - 415,000 metric tons, olefin LPG - 75,000 metric tons and 145,000 metric tons of sulfur. The refinery will not produce petrol and fuel oil.
It is planned to refine Azeri Light, Kerkuk and URALS oil at the plant.
Edited by CN
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