Bank Of Baku

Turkey approves SOCAR&Turcas/Injaz refinery environment impact assessment

Turkey approves SOCAR&Turcas/Injaz refinery environment impact assessment
# 11 December 2009 17:22 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Turkey’s Ministry of Environment and Forestry has approved the environment impact assessment on a refinery to be built at Petkim petrochemical complex by SOCAR&Turcas/Injaz consortium.

According to the assessment report, the refinery will cover 1 375 hectares.

Kenan Yavuz, chairman of the consortium, said the report guarantees environmental protection.

The construction is slated to commence in 2010. The refinery’s capacity will be 10-15 million tons per year.

According to projections, the consortium’s total turnover of investments (upstream, downstream, energy and logistics) may amount to $15 billion by 2018.

SOCAR&Turcas/Injaz consortium (Azerbaijan-Turkey-Saudi Arabia) owns a 51% controlling stake in Petkim after privatization in 2007.
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THE OPERATION IS BEING PERFORMED