Azeri Socar plans USD 10bn investment in Turkey in next 7-8 years.

By bne IntelliNews June 8, 2012
Azerbaijan's state-owned energy company Socar plans a total of USD 10bn investment in Turkey over the next 7-8 years. Suleyman Gasimov, deputy chairman of the company, said that this figure did not include the planned investments in the Trans Anatolian Natural Gas Pipeline Project (TANAP) and when this project was included, the total investment amount would be USD 17bn. Socar's investments in the petrochemicals firm Petkim reached USD 2.04bn up to date while future investments in Petkim will be USD 1.76bn and another USD 5.5-5bn will be invested in the Star refinery to be established at the Aliaga complex, Gasimov also said. Socar & Turcas holds a 51% stake in Petkim.

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