• Home
  • Contact
  • Submit a News Release
Monday, June 9, 2025
  • Login
No Result
View All Result
NEWSLETTER
Mainland Times — Breaking Continental European News
  • Climate
  • Business
  • Economy
  • Europe
  • Health
  • Education
  • Society
  • Sport
  • World
  • Climate
  • Business
  • Economy
  • Europe
  • Health
  • Education
  • Society
  • Sport
  • World
No Result
View All Result
Mainland Times — Breaking Continental European News
No Result
View All Result
Home Business

SOCAR to ramp up Turkish investments

Michael Sanders by Michael Sanders
12/09/2021
in Business
SOCAR to ramp up Turkish investments
11
VIEWS

Azerbaijan’s state oil company SOCAR has announced that it plans to increase its investments in the Turkish economy by 4.5 billion US dollars.

“We have full confidence in the Turkish economy. Although the Turkish economy experiences up and downs, it has managed to record four to five per cent growth per year in the last decade. Our commitment to Turkey is not short-term, and SOCAR will continue investing in Turkey,” said Mesut İlter, general director of SOCAR’s Turkey Aegan Refinery (STAR).

Having entered the Turkish market in 2008, the Azeri energy firm has so far invested 15 billion US dollars and become the largest private sector investor in Turkey.

Operating in Turkey’s Izmir province since October 2018, the company’s most recent investment, the STAR refinery is expected to become one of the biggest petrochemical operations in the region.

According to the Turkish media, SOCAR’s new investment into the 6.3 billion-US dollar Izmir facility is expected to cost 1.5 billion US dollars and be completed in late 2020.

Recommended

Opinion: Ontario Stands Out as ‘Climate Hooligan’ Amid Patchwork of Provincial Policies

Opinion: Ontario Stands Out as ‘Climate Hooligan’ Amid Patchwork of Provincial Policies

3 years ago
Stuart Broad labels Ashes opener ‘a lottery’ after limited buildup

Stuart Broad labels Ashes opener ‘a lottery’ after limited buildup

3 years ago

Popular News

  • Letter: Bill Broderick obituary

    Letter: Bill Broderick obituary

    0 shares
    Share 0 Tweet 0
  • Greater Bay Airlines Unveils Ambitious Expansion Plans Into Mainland China for 2024

    0 shares
    Share 0 Tweet 0
  • Belarus shuts down largest independent news portal, arrests staff

    0 shares
    Share 0 Tweet 0
  • Mura stun Tottenham with late Europa Conference winner after Sessegnon red

    0 shares
    Share 0 Tweet 0
  • Filmmaker John Martoccia Unveils New Masterpiece: Critical Acclaim Premieres October 18-24 at Cinema Village, NY & Laemmle Theatre, Santa Monica

    0 shares
    Share 0 Tweet 0

Newsletter

Subscribe and receive the latest news to your email.

SUBSCRIBE

Category

  • Business
  • Climate
  • Economy
  • Education
  • Europe
  • Health
  • Latest
  • Society
  • Sport
  • World

Site Links

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

About Us

Mainland Times is an independent online outlet that publishes socially relevant news taking place on the European continent. Mainland Times aggregates news from several sources, and also provides coverage through a network of local correspondents.

  • Home
  • Contact
  • Submit a News Release

© 2021 All rights reserved.

No Result
View All Result
  • Home
  • Europe
  • Economy
  • Health
  • Climate
  • Climate
  • Business
  • Sport
  • Education
  • Society
  • World

© 2021 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In