CASPIAN

 

Socar To Invest $17Bn In Turkey

Azeri state firm Socar plans to invest up to $17bn in Turkey through the end of this decade, Socar Turkey Energy CEO Kenan Yavuz told a conference in Baku on 5 June. The Socar subsidiary holds a 61.32% stake in Turkey’s largest petrochemical company, Petkim. Mr Yavuz said that most of this investment will be directed to the completion of a refinery that will be constructed in Izmir. The new refinery is expected...