Joint refinery of Turkey and Azerbaijan to export $500M in petrochemical raw materials per year | Eurasia Diary - ednews.net

26 June, Wednesday


Joint refinery of Turkey and Azerbaijan to export $500M in petrochemical raw materials per year

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All tests on the State Oil Company of Azerbaijan Republic's (SOCAR) Turkey Aegean Refinery (STAR) have been completed and the refinery will start working on full capacity soon, according to the General Manager of STAR Refinery, Mesut İlter, who said the refinery will be exporting around $500 million of petrochemical raw materials per year.

The largest single-location real sector investment in Turkey, the $6.3-billion STAR facility, located in the Aliağa peninsula in the Aegean province of İzmir, is poised to be one of the biggest petroleum and gas operations in Europe, the Middle East and Africa.

"Once the refinery reaches full capacity, it will meet all [of] Petkim's [petrochemical company] need for raw materials. Until the second petrochemical plant planned to be built by SOCAR Turkey is launched, we will export about $500 million worth petrochemical raw materials annually," İlter told Anadolu Agency.

 

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