SOCAR Turkey, a subsidiary of the State Oil Company of Azerbaijan, said that STAR refinery in Izmir, its 6.3 billion dollars investment in Turkey, will be commissioned in October.
General Manager of the refinery Mesut Ilter said that 99.1 % of the refinery has been completed. The investment to date is 5.2 billion dollars, but once the project is completed, the total investment volume is expected to reach 6.3 billion dollars. The refinery is expected to narrow Turkey’s current account deficit by 1.5 billion dollars by alleviating raw material imports including diesel.
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