BAKU, Azerbaijan, Oct.26
By Leman Zeynalova – Trend:
The first round of SOCAR investments in Turkey ended in 2020 and now the company is considering new investments, Zaur Gahramanov, CEO of SOCAR Turkey, told Turkish media, Trend reports.
“We will have new investments in the petrochemical sector in the future. We are working on engineering and due diligence of those projects. We will present our investment program in 2021 and launch these projects,” he said.
SOCAR Turkey Enerji A.S. (SOCAR Turkey), a subsidiary of SOCAR (State Oil Company of Azerbaijan Republic) which is one of the most deep-rooted global oil and natural gas companies, initiated its business operations in Turkey upon acquisition of 51 percent of the shares of Petkim from the Privatization Administration in 2008.
Drawing attention with its giant projects realized one after another which will have a total investment value of 19.5 billion US Dollars once completed, SOCAR Turkey encompasses the best-in-breed companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (Wind Power Plant), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.
Focusing on its main investment areas, namely petro-chemical products, refining, natural gas trade and distribution, SOCAR Turkey is the first company to get the title of 'Private Industrial Zone' in Turkey for its fields covering most of its investments in Aliaga.
SOCAR Turkey, which has become a symbol of the developing economic cooperation between the fraternal countries of Azerbaijan and Turkey, provides support to enable Turkey to be an influential power across the international energy arena with its investments.
Maintaining its investments with the strong belief in the potential and future of Turkey, SOCAR Turkey provides a substantial contribution to the economies of Azerbaijan and Turkey. Having completed the integration process in refinery, petro-chemistry, energy, logistics, distribution and storage, the group forges ahead to become the biggest industrial holding of Turkey.
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