Our investments in Turkey, continuously made for ten years, have been awarded by announcing as a Special Industrial Zone, SOCAR Turkey CEO Zaur Gahramanov said in connection with Turkish President Recep Tayyip Erdogan’s decision.
SOCAR, which entered Turkey’s market through buying Petkim (51%) in 2008, has invested $14.2 billion so far and this figure will be $19.5 billion when the projects complete.
“All of our projects except TANAP are in Aliaga, Izmir. New petrochemical project we are planning to commence next year will be located in this area too. Earlier, we had obtained the first Strategic Investment Incentive Certificate. Now after our appeal on an area where SOCAR’s project locate in, we are very pleased to be declared ‘Special Industrial Zone’. We have carried out large projects in Turkey so far. From now on, we’ll try to develop the economies of Turkey and Azerbaijan.”
According to him, STAR Refinery is an only example of petro chemistry-oil processing integration in the country.
Special Industrial Zone covers 1,453 hectares in Aliaga where SOCAR’s projects are located. All projects including STAR Refinery, Petkim petrochemical complex, Petlim container port, Petkim wind power station will enjoy these privileges within the Special Industrial Zone.