Azerbaijan eyes to earn $850M per year from Star refinery

Wed 20 September 2017 12:02 GMT | 16:02 Local Time

Text size: bigger smaller
W1siziisijiwmtcvmdkvmjavmtyvmjkvntavymzjmzg2zjktyjnloc00zmy0lwi0ogutotzhmjzmmjljzja5l2ltywdllmpwzyjdlfsiccisinrodw1iiiwimzywedi3mcmixv0?sha=869f821fd2c7002e

The refinery’s construction will be completed in the second half of 2018.

Annual income of Azerbaijan’s economy from the Star oil refinery, being constructed by SOCAR on Aliaga Peninsula in Turkey, will be about $850 million within the first five years after its commissioning, said SOCAR President Rovnag Abdullayev, according to AzVision.

He made the remarks Sept. 20 in Baku at an event dedicated to the Oilmen Day.

Over the next 10 years, the annual income will be $610-615 million, according to him.

“The refinery’s construction will be completed in the second half of 2018. The refinery will primarily provide naphtha to the Petkim petrochemical complex, which aims to take up to 30 percent share of the Turkish market,” Abdullayev said.

News.Az

Printer

Commentary

Most read articles

More from Economy

In The Region

Editor Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate