Azerbaijani SOCAR plans $7 billion investment in Turkey to build petrochemical facilities.

Azerbaijani state-owned energy company SOCAR plans to invest an additional $7 billion in Turkey to build new polyolefin production facilities, aiming to reduce Turkey's reliance on imported petrochemical products. SOCAR, which currently stands as Turkey's largest foreign investor with over $18.5 billion invested since 2008, seeks to further strengthen ties and boost its revenues. The investment decision is expected by the end of 2026.

3 months ago
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