Turkish, Azeri firms to begin construction of new refinery in Oct

it is expected to end Petkim's dependence on foreign resources.

Turkish, Azeri firms to begin construction of new refinery in Oct

Socar & Turcas, a joint venture between Azerbaijan's state-owned oil company Socar and Turkish fuel distribution company Turcas, is set to begin construction work for a new refinery in Izmir in the second half of October this year as the launch was planned for 2015.

The new 10 million ton refinery, Ege, at a site of the Turkish petrochemicals producer Petkim in Aliaga will cost some 5 billion USD, and it is expected to end Petkim's dependence on foreign resources.

Socar & Turcas owns a 51 percent majority stake in Petkim.

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Last Mod: 15 Ağustos 2011, 14:41
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