SOCAR Turkey Enerji company, daughter company of State Oil Company of Azerbaijan (SOCAR) , has bought a new office building in Istanbul.
SOCAR press office reported that the contract on purchase of one bloc in the VadiStambul residential and business complex, which is currently under construction, was signed in Istanbul. This will become a new office of SOCAR Turkey Enerji.
Construction of the building will be completed in March 2016.
“SOCAR has been implementing investment projects in Turkey to the amount of $20 billion. We do not think only about today, but also take into consideration our needs in the future. For this reason we have chosen VadiStambul complex,” Kenan Yavuz, Executive Director of SOCAR Turkey Enerji, said.
He said the company has received a credit worth $75 million from Odeabank to fund purchase of a new office building. The credit was allotted to the company for 10 years with two-year grace period.
