Decision on new project of SOCAR in Turkey to be made in 2021

Decision on new project of SOCAR in Turkey to be made in 2021
  • Clock-gray 19:09
  • calendar-gray 25 December 2020

The final decision on the construction of new petrochemical complex (project Mercury) of SOCAR planned to be implemented in Aliaga region of Izmir, Turkey, will be made in 2021, said Anar Mammadov, director general of the Petkim petrochemical complex on the Aliaga Peninsula in Turkey (the main share belongs to SOCAR - ed.) and the Star Refinery oil refinery built by SOCAR at the online press conference, APA-Economics reports.

According to him, BP's exit from all petrochemical projects and new kind of coronavirus pandemic have affected to this project which considers the participation of BP company during current year. Nevertheless, technical discussions on the project are being continued and carried out in conjunction with BP: “The decision on the project will be adopted next year” he said.

Note that SOCAR and BP have signed an agreement on the evaluation principles of the plan to establish a joint venture for the construction and management of a world-class petrochemical complex in Turkey on December 20, 2018. This project considers the construction of the complex that will produce 1.25 mln. tons of purified terephthalic acid, 840 thousand tons of paraxylene (PX), 340 thousand tons of benzene .

Emil Ismayilov

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