SOCAR to increase investments in Turkey

  • 11:46 15 October 2019

SOCAR to increase investments in Turkey

The volume of investments of SOCAR Turkey will be more ($ 19.5 bln.) than indicators defined in the investment plan, Head of External relations of SOCAR Turkey Murat LeCompte told ONA.

“Our current investment plan amounts to $ 19,5 bln. Of this, $15 bln. has been already provided,” LeCompte stated.

However, according to him, increasing storage capacity project is currently being implemented at the “Star” oil refinery plant, and then with British Petroleum (BP), it is planned to implement a project to build an additional petrochemical complex in Aliaga region of Izmir, in addition, construction of a new research centre is also planned.

The implementation of these works requires an additional investment.

M. LeCompte also did not exclude the acquisition of additional assets by SOCAR Turkey in the country.

Emil Ismayilov