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Azerbaijani SOCAR's affiliate outlines new petrochemical projects in Türkiye

19 March 2024 [12:02] - TODAY.AZ

The State Oil Company of Azerbaijan (SOCAR) plans to implement new investment projects in the petrochemical sector of Turkey, Azernews reports.

This was stated by Elchin Ibadov, CEO of "SOCAR Turkiye Enerji", a subsidiary of SOCAR in Turkey.

According to him, new projects will be developed in the field of petrochemicals, which is one of the important components for Turkish energy: "Using our knowledge and experience, we are working on the "Master Plan" in which we evaluate investment alternatives. We are working to identify and implement an alternative in the coming months. This will make the most accurate and effective contribution to our countries."

E. Ibadov noted that SOCAR and its partners have invested a total of 18.3 billion US dollars in projects in Turkey over 15 years: "SOCAR, which operates in more than 15 countries with its subsidiaries and joint ventures, has made its largest investment in Turkey to date. Currently, we are the largest direct foreign investor in Turkey. The point we have reached in 15 years makes us proud of the added value we give to the economy."


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