SOCAR Turkiye's investments have reached $18bn

The investments of SOCAR Türkiye have reached $18bn, Azernews reports, citing the CEO of SOCAR Turkiye, Elchin Ibadov’s interview given to international media outlets.

"SOCAR is the largest foreign direct investor in Turkiye. As a company operating in the field of energy, which is one of the most priority areas for the whole world, SOCAR Türkiye will continue its activities to strengthen the economy of Azerbaijan and Turkiye. With our competent personnel, we will serve the economy, industry, and social development of Turkiye for many years,“ he said.

SOCAR Türkiye is one of the most prominent industrial holdings in Turkiye. The company’s activities cover many sectors including petrochemicals, refining, natural gas, trade, transmission, and distribution. SOCAR Türkiye started its commercial activities in Turkiye in 2008 after buying 51 percent of the shares of Petkim. The company works through three separate business units: Refinery & Petrochemicals, Natural Gas, and Portfolio Management. It includes the best-in-class companies are Petkim, STAR Refinery, SOCAR Storage, SOCAR Ticaret, Petkim RES in the Refinery & Petrochemical Business Unit, SOCAR Energy Trading, Bursagaz, Kayserigaz, Enervis in the Gas Business Unit; Millenicom, SOCAR Terminal, SOCAR Fiber, SOCAR R&D, SOCAR Insurance and TANAP in the Portfolio Management Business Unit.