Until the end of 2014 investments of SOCAR Turkey Enerji, daughter company of SOCAR, into the Turkish projects will reach about $5 billion, Kenan Yavuz, Executive Director of the company, said at a press conference in Baku.
“By present the company has invested about $3.5 billion into the projects in Turkey and till the end of the year $1 billion more will be invested,” he added.
He reminded that SOCAR Turkey Energy implements projects in Turkey, total investments into which, including construction of trans-Anadolu, will total $20 billion. The projects include construction of Star oil refinery, wind power station and the biggest container port in Turkey.
He added that the ceremony of signing of the credit agreement with the commercial banks to fund Star oil refinery in Turkey will be signed on June 6, 2014. “SOCAR Turkey Enerji’s investments into the project implementation totaled $900 million. The oil refinery is planned to be launched at the end of 2017,” he added.
Yavuz said that in August-September 2015 the company plans to put into operation the container port and wind power station with 51 MWt power. SOCAR Turkey Enerji President also said that the company continues the projects to expand capacity of Petkim complex.
“Our goal is to make sure that by 2018 Petkim is the second biggest industrial company in Turkey and by 2023 – the first industrial company in the country,” he added.
Yavuz added that SOCAR Turkey Enerji has obtained permission to build the 1900-km-long fiber-optical cable along the TANAP route.
“Investments into the project implementation are about $15 million, but it is very important from the viewpoint of communication. Construction of the cable will begin in parallel with the TANAP gas pipeline construction,” he said.
