SOCAR to hit $17 billion investment in Turkish economy by 2017

Until the end of 2017, investments of the State Oil Company of Azerbaijan (SOCAR) in the Turkish economy will reach $17 billion, Turkish HABER7 TV channel quotes Petkim Petrochemical Holding chairman Vagif Aliyev as saying on Tuesday.

He said about $7-$8 billion of total investments will be made in the construction of Turkey's first chemical industrial park Value-Site.

SOCAR owns the petrochemical complex Petkim Petrokimya Holding in Turkey, a container terminal and is building an oil refinery with capacity of 10 million tons a year. The company plans to begin distribution of gas and oil products in the domestic market of the country, as well as build a new gas pipeline TANAP together with Turkish partners.


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