SOCAR to continue investing in Turkish economy

  • 15:45 21 May 2019

SOCAR to continue investing in Turkish economy

The current state budget deficit of Turkey is expected to decrease $ 1,5 billion annually after full operation of Star oil refinery worthed $ 6,3 bln. which was constructed by SOCAR at the Petkim petrochemical complex in Izmir, Turkey, director general of STAR oil refinery Mesut Ilter said, ONA reports citing Anadolu Agency.

"By the end of the year, we plan to process 8 million tons of oil at the refineries plant,”  Ilter stated.

According to him, SOCAR is one of Turkey's largest investors. So far the company has invested $ 15 bln. in Turkish economy and we are planning to reach this number 19,5 bln. The company fully relies on Turkey's economy and will continue to invest.

Emil Ismayilov

Tags: SOCAR economy Turkey