Baku, Azerbaijan, Nov. 19
By Rufiz Hafizoglu - Trend:
SOCAR Turkey Enerji will become the largest company of Turkey in five years, head of SOCAR Turkey Enerji (Turkish division of the State Oil Company of Azerbaijan), board member of Petrochemical Holding Petkim Kenan Yavuz said, Cihan agency reported on Nov.19.
According to Yavuz, the investments of Azerbaijan to Turkey can hit $20 billion.
He also stressed that the brotherly relations between Azerbaijan and Turkey are not only in words but also in deed.
Earlier the company head said that until 2018, Azerbaijani investments in Turkey will reach at least $17 billion.
According to him, it implies the investment that Azerbaijan has made since 2008 in several major engineering projects. These projects have not been attempted to implement in Turkey before.
"These and other projects in the energy and petrochemical industry mean that Azerbaijan could become the largest foreign investor in Turkey," Yavuz stressed.
SOCAR Turkey Enerji ranks second in the field of industrial production in Turkey.
SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.68 per cent is in free circulation on the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.