The Azerbaijani oil company SOCAR is about to construct new oil refinery in Turkey in October this year, GHN reports.
The Trend reports that head of the company Rovnag Abdulaev declared at the meeting with participants of SOCAR scholarship program for 2007-2015yy.
The construction of this oil refinery will take investments in USD 5bn. It will provide with the oil the Turkish oil-chemical industry Petkim. SOCAR has shares in Petkim Petrokimya Holding
. The output of the refinery will be 10mn ton per year. The oil refinery construction will be accomplished in 2015.
Last year the alliance SOCAR and Turcas Petrol/Injaz Projects were the winners of the tender for 51% shares of the chemical industry Petkim. They paid for it USD 2.04 bn. Presently Turkey imports 70-75 % of all necessary chemical products. The present investment will allow decreasing the import to 30%.