Turkey Agrees upon Construction of Azerbaijani Oil Refinery Plant in Ceyhan
Azerbaijan, Baku / Trend / The Energy Market Regulating Body of Turkey has confirmed an appeal by a joint venture, which includes the State Oil Company of Azerbaijan (SOCAR) and Turkish Turcas, for the construction of an oil refinery plant (ORP) not far from Ceyhan port, according to Turcas company.
Some $4bln will be invested in the construction of the plant. The participation share in the JV is distributed in the following way: SOCAR by 51%, Turcas by 25% and Aksoy Holding by 24%. The capacity of the ORP is 10mln t/year. The investments will be spent within six to six and a half years.