Azerbaijan to start construction of new oil refinery plant in Turkey in October

In October, a groundbreaking ceremony will be held for new oil refinery plant of SOCAR in Turkey, the President of SOCAR Rovnag Abdullayev said.

According to him, the plant’s production capacity of 10 million tons per year will satisfy the demand for raw materials of the large Turkish Petrochemical Group Petkim: “The economic profitability of this project lies in the fact that the plant is built near Petkim. With the construction of the plant we solve two problems. Firstly, are meeting the demand for raw materials of Petkim, secondly, because the plant is located near the Aegean Sea, we stored diesel, kerosene and chemical raw materials, which are very large reserves in the Mediterranean Sea and the markets of Turkey. The plant will not produce any gasoline”.

Abdullayev said that the first hardware would be installed at the plant within 3 years. Preliminary assessment of the plant is $5.5 billion.

It should be noted that SOCAR is one of the major shareholders Petkim.


/APA/