SOCAR Turkey Energy (Turkish "daughter" of the State Oil Company of Azerbaijan) acquired a new office building in Istanbul.
According to the press service of SOCAR, in Istanbul yesterday an agreement was signed to acquire a block in a newly built residential and business complex Vadi Istanbul with an area of 19 thousand sq. meters, which will be a new office of SOCAR Turkey Energy.
The information indicates that the construction of the building will be completed in March 2016.
"SOCAR is currently implementing investment projects worth $ 20 billion in Turkey. We think not only about today, but also take into account our needs in the future. Therefore, we chose the block Vadi Istanbul," the press release cited the words of the CEO SOCAR Turkey Energy Kenan Yavuz.
According to him, the company raised a loan from Odea Bank in the amount of $ 75 million to finance the purchase of the new office building. The loan was granted to the company for 10 years, including a two-year grace period.
SOCAR Turkey Energy is currently implementing a number of major projects in Turkey. In particular, the company owns a controlling interest (51%) stake in the petrochemical complex Petkim Petrokimya Holding. The company is also building a refinery and a port in Izmir and is a participant in the project of building the Trans Anatolian Gas Pipeline (TANAP), in which it has a 58% stake. -12D--
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