SOCAR plans US$5bn investment in Turkish refinery project by 2017
The so-called Star refinery would be built in Aliaga on the Aegean coast and would have a capacity of 10 Mt/year (200,000 bbl/d). SOCAR, which owns 81.5% of the project (18.5% held by Turcas), has signed a US$3.46bn Engineering, Procurement and Construction (EPC) contract with a consortium of Tecnicas Reunidas, Saipem, GS Engineering and Itochu; the group plans to borrow about US$3bn to finance the project.
Source: www.enerdata.net 22 May 2013