Bank Of Baku

SOCAR to build oil refinery in Georgia

SOCAR to build oil refinery in Georgia
# 19 May 2016 10:36 (UTC +04:00)

Baku - APA-Economics. SOCAR Georgia Investments will build an oil refinery instead of carbamide plant in Georgia.

 

APA-Economics reports citing to Interfax that the plant costs $120 mln.

 

Georgian government and SOCAR Georgia Energy reached an agreement on the project.

 

The plant is planned to refine 2 mln tonnes of light oil per year. Along with this, 10% of products will be sold at concessional price. 70% of employees must be Georgian citizens. 

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