Azerbaijan's SOCAR to Invest $7bn in Türkiye's Petrochemical Sector
Photo: Grok, ill. purposes
Azerbaijan's state oil company SOCAR plans to invest $7 billion in new petrochemical facilities in Türkiye, Orda reports, citing Middle East Eye.
Kanan Mirzayev, head of SOCAR's refinery and petrochemical unit, announced this.
SOCAR Türkiye CEO Elchin Ibadov has claimed the company has invested $18.5 billion in Türkiye over 17 years, making it the country's largest foreign investor.
SOCAR Türkiye employs over 10,000 people.
The SOCAR Star Oil Refinery, established in 2018 as Azerbaijan's most significant one-time foreign investment in Türkiye, can process 214,000 barrels of oil daily.
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