Azerbaijan to start Turkey refinery construction Oct

Azeri state energy company SOCAR plans to start construction of a 10 million tonnes per year oil refinery in Turkey at the end of October, SOCAR's president said on Wednesday.

"Beginning of the construction at the end of October is realistic, while the launch of the factory's facilities will be possible within four years," Rovnag Abdullayev told reporters.

Investments into the project are estimated at $4.5 billion-$5.0 billion, he said.

The refinery will supply major Turkish petrochemical company Petkim , which is controlled by SOCAR.

Its main products will be gasoil, jet fuel, and naphtha produced for domestic consumption in Turkey as well as for exports.

Source: Reuters