1.9 C
Belgrade
Supported byspot_img
spot_img

Turkey: SOCAR Turkey to increase investments

Member of Europium Groupspot_img
Supported byspot_img

Vagif Aliyev, Chairman of the Board of SOCAR Turkey, local subsidiary of the State Oil Company of Azerbaijan, announced that the company will continue to invest in Turkey even after the failed coup on 15 July and stressed that this event will not damage the investments in Turkey.
Aliyev said that SOCAR’s investment in Turkey totaled over 18 billion dollars, including the projects that will help Europe to increase energy security and diversify sources of energy, adding that the company has over 40,000 employees in the country. SOCAR’s partners are also determined to continue operations in Turkey and trust in Turkey’s economy and stability, Aliyev concluded.
He added that SOCAR is currently building the first private oil refinery in Turkey – STAR refinery, which should be completed in 2018. Petrochemical company Petkim, the subsidiary of SOCAR Turkey, which was the first of its kind in Turkey and was privatized in 2008, represents a symbol of the trust that SOCAR has in Turkey.

Supported byElevatePR Digital

Related News

Important Announcement to Our Readers

After years of dedicated efforts to promote the European mining industry and foster a balanced approach between environmental conservation and the responsible exploitation of...

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....
Supported by
Supported by
Supported by
error: Content is protected !!