Its investment in Turkey has exceeded 14 billion dollars, the second Petkim is on the table

AZERBAIJAN Chairman of the board of state oil giant Socar Rovnag Abdullayev, Deputy chairman Vagif Aliyev and Socar Turkey CEO Zaur GahramanovWe are in Baku for the Turkey-Wales match at the invitation of .

Socar’s vice president of investments Vagif Aliyev and Socar Turkey CEO Zaur GahramanovWe chat with. Vagif Aliyev, mentioning its total investments in Turkey:

Our total investments in Turkey, including Petkim, Star Refinery, Socar Terminal and TANAP, exceeded 16.5 billion dollars.

Immediately after, he made the following correction regarding the investment figure:

In fact, Botaş also has a share in TANAP. Considering the share of Botaş, our total investment as Socar is around 14 billion dollars.

Aliyev and GahramanovI conveyed the new Petkim-like investment expectation of all sectors using raw materials based on petrochemical products to , and asked:

– You had a second Petkim plan with BP with an investment of nearly $2 billion. What happened? Won’t you make a second Petkim investment in Turkey?

Aliyev replied:

We would invest 50-50 percent with BP. His name would be Mercury. BP sold its global petrochemical division to Ineos. We started negotiations with Ineos. However, with the intervening COVID-19 crisis, they put the investment on hold. We also gained time.

Gahramanov intervened:

Turkey has a current account deficit of 13.5 billion dollars a year with the import of petrochemical products. In other words, there is a need for investment to produce petrochemical products similar to Petkim.

Aliyev continued:

BP would both make an important contribution in terms of technology and be an investor partner in our Mecury project. We are now negotiating with other groups besides meeting with Ineos. The finalization of the investment decision will not be before 2022.

See also  5 things to watch this week in the financial markets For Investing.com

At this point, he pointed out that there are other petrochemical investment preparations in Turkey:

We hear that Turkey Wealth Fund, Sasa and Rönesans are making separate investment preparations. These investments will not deter us from our Mercury project.

Gahramanov, drew attention to the following point:

After acquiring Petkim in 2008, we did not sit idle. We invested 100 million dollars each way in Petkim.

Vagif Aliyev, He focused on the Star Refinery’s feature:

Star Refinery has become an investment that integrates with Petkim. Our refinery produces 2.4 million tons of raw materials for Petkim annually. Star Refinery has reached a total production of 10 million tons, 7 million tons of which is diesel. Production will increase to 11 million tons in 2021.

Then it gave the following message:

Since we acquired Petkim, we have not transferred any profits to our country. We left the profit we made in Turkey and used it to finance investments.

Socar was planning to lay the foundation of Mercury, known as the second Petkim, in 2021 and was giving messages in this direction.

BP’s sale of its petrochemical division to Ineos led to the suspension of the Mercury project…

Vagif Aliyev and Gahramanov‘s messages reveal that Socar has not given up on its second Petkim investment…

Industries based on petrochemical products are looking forward to the second Petkim investment…

The words of the two Presidents are instructions for Socar

TO PUNCH Deputy Chairman of the Board Vagif Aliyevto the President Recep Tayyip ErdoganPresident of Azerbaijan Ilham AliyevWe reminded him of his words during his conversations with :

See also  ÖBB does not see Corona millions as state aid

We will work for cooperation between Turkish Petroleum and Socar in third countries.

Vagif Aliyev, He made the following reminder:

Socar has been collaborating with Turkish Petroleum since 1994. We have partnerships in Azerbaijan.

Then he added:

The words of the two presidents are instructions for us. Of course, we will work in that direction.

Baku Olympic Stadium worth 640 million is signed by Tekfen

HAYDAR While driving towards the city center at Aliyev International Airport, our guide pointed to the stadium:

Baku Olympic Stadium…

While the guide continued to provide information about the stadium, I remembered June 2015. President Recep Tayyip Erdogan, President of Azerbaijan Ilham Aliyevby the invitation of “one. European Games”I went to Baku for the opening ceremony of the .

While examining the booklet prepared by the Presidency team on that trip, the following sentence caught my attention:

Tekfen Construction built the 68 thousand-seat Olympic Stadium, where the 1st European Games took place in Baku.

Tekfen Construction General Manager Levent Caucasian I communicated with and received information:

We built the Baku Olympic Stadium on an area of ​​617 thousand square meters. It has a seating capacity of 68 thousand people in a closed area of ​​204 thousand square meters.

I asked the cost of the stadium and got the following answer:

The contract value is $640.5 million. Construction also took 2 years as planned.

In Baku, famous for its wind “one. European Games”The wind had not stopped on the opening day. While watching the opening ceremony, I thought of the Atatürk Olympic Stadium, bearing the signature of Tekfen Construction. CaucasianI asked:

See also  $ 20 billion for a liquefied natural gas plant in Mozambique

– There was a lot of trouble with the wind at the Atatürk Olympic Stadium. Did you take any special precautions regarding the wind while building the Baku Olympic Stadium?

I got this response:

Geometric ETFE panels that form a 30 thousand square meter LED-illuminated façade provide good insulation and allow the passage of daylight. ETFE panels also offer solutions for wind.

“Euro 2020” Tekfen Construction team learned that we were in Baku for the Turkey-Wales match, and sent reminders about the Baku Olympic Stadium yesterday:

The design of the project was inspired by the two important historical symbols of Baku, the Maiden’s Tower and the Sheiki Khan Palace. The cylindrical form of the Maiden’s Tower and the original patterns from the stained glass of the Sheiki Khan Palace inspired the circular structure of the stadium.

I once again experienced the pride of having the Turkish contracting company built the Baku Olympic Stadium last night…

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.