The Turkish "daughter" of the State Oil Company of Azerbaijan, SOCAR Turkey Energy received a syndicated loan of $ 3.3 billion for the construction of the Star refinery in Izmir, Turkey. The leading organizer of the credit extended by a banking consortium is the Canadian export credit agency Export Development Canada.
According to the agency, it itself provides $ 150 million and the transaction of the project financing is the largest in the history of the Turkish economy. According to the source, its participation in the financing of the construction of the refinery would "establish a constructive relationship with SOCAR, which will undoubtedly greatly increase the chances of purchases from Canada in the future."
Export Development Canada is an export credit agency in Canada, which provides innovative business solutions for 7,700 national companies operating in 200 markets around the world in the development of the Canadian economy.
The foundation of the refinery Star was laid by SOCAR Turkey Energy on October 25, 2011 in Izmir. The general contractor of the construction is the alliance of companies Tecnicas Reunidas SA, Saipem SpA, GS Engineering & Construction Corp and Itochu, which in May 2013 signed a comprehensive contract EPC (Engineering, Procurement and Construction).
The refining capacity will be 10 million tons of oil per year. At the plant it is planned to recycle such oil sorts as Azeri Light, Kerkuk and Urals.
The company SOCAR Turkey Energy is the majority owner (51%) of the shares of the petrochemical complex of Turkey Petkim Petrokimya Holding. The company also builds an oil refinery, a container terminal and gas supplies to the domestic market in Turkey. --17D-
Economics
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