SOCAR gets license for construction of oil refinery in Turkey

It is expected that construction of a refinery will be launched next year. A detailed engineering will be conducted by the end of this year. The biggest asset of SOCAR in Turkey is a petrochemical complex Petkim. All operations are carried out to build a refinery needed to ensure the complex with raw materials.

Capacity of the new plant will be 10 million tons per year, of which 4 million tons will be supplied to the needs of Petkim in raw materials. The rest part, in particular diesel fuel, jet fuel and other energy resources will be sold on the markets of Turkey and Europe.

In 2008, the alliance between SOCAR and Turcas Petrol / Injaz Projects has won a tender to sell 51 percent stake of chemical concern Petkim, offering $2.04 billion. Now Turkey imports 70-75% of the necessary chemical products. Investments of SOCAR / Turcas / Injaz to the development of Petkim will reduce imports by 30%.

Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC, detergents. It is the only Turkish producer of such products. The company exports a quarter of the production.


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