Finance

Finance

Azerbaijan attracts Goldman Sachs to its project in Turkey

04 February 2014 09:57 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. SOCAR Turkey, daughter company of the State Oil Company of Azerbaijan (SOCAR), is selling Petkim Holding's share in Petlim Port Operations company.

APA-Economics reports quoting Turkey's Dunya newspaper that the company has already started talks with Goldman Sachs investment company.

SOCAR plans to spend the money from the sale of Petlim to increase its share in Star oil refinery.
President of SOCAR Turkey Kenan Yavuz said the capacity of Petkim Port is expected to reach 1.5m TEU.
"We are holding talks on the sale of our shares or strategic financial partnership," he said.

Kenan Yavuz said approximately 25% of the share would be sold. He said there are no problems in financing the construction of the port.

"We have already started talks. We should continue investment flow to our country and once more prove the confidence in our country and company. We are taking this step to continue our projects on the international level and meet some needs," he said.

Kenan Yavuz said attraction of Goldman Sachs, one of the world's biggest strategic investors is of great importance.