BAKU, Azerbaijan, March 15
By Leman Zeynalova – Trend:
STAR oil refinery of Azerbaijan’s state oil company SOCAR in Turkey has joined the Global Lighthouse Network of the World Economic Forum (WEF), Trend reports.
STAR Refinery, which aims to become one of the most digitalized refineries in the world, have invested more than $70 million in technological equipment yet in the construction phase. As a result, STAR refinery jointed WEF’s Global Lighthouse Network, which brings together the best companies in terms of using Industry 4.0 technologies in production. STAR refinery is the first oil refinery to join this league in the world and the only company from Turkey in 2021.
STAR came on stream in October 2018. Around $3.3 billion of the project’s cost was covered by loans. The total investment in Star Refinery is expected to stand at $7 billion.
The annual processing capacity of Star Refinery is 10 million tons. It meets around 25 percent of Turkey’s refined oil products. The refinery is able to process 214,000 barrels of crude oil per day.
---
Follow the author on Twitter: @Lyaman_Zeyn