SOCAR Turkey's investment costs top $16.5 billion: director general
SOCAR Turkey's investment costs exceed $16.5 billion, the company's Director General Zaur Gahramanov said at a press conference for representatives of the Azerbaijani media, News.Az reports citing Trend.
Gahramanov noted that of the mentioned costs, $6.3 billion accounted for Star refinery, $600 million - SOCAR Depolama, and $400 million - SOCAR container terminal.
"Besides, $2.04 billion were invested in the privatization of Petkim, and about $1 billion more annually - $100 million each. We invested $6.5 billion in the TANAP project," he added.
SOCAR Turkey began its commercial activities in Turkey after acquiring 51 percent of Petkim shares in 2008. It includes best-in-class companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (wind farm), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.
The company focuses on the production of petrochemical products, processing, trade and distribution of natural gas.