State Oil Co. of Azerbaijan, known as Socar, and Petkim Petrokimya Holdings AS plan to build Turkey’s largest container port at a cost of $400 million, Socar President Rovnaq Abdullayev told the ANS television channel.
The port will help cut transportation costs, Abdullayev said late yesterday.
There are also plans to build a power station with an estimated cost of $1.2 billion, he said. The power plant will generate electricity for the Star oil refinery that’s under construction in Turkey’s Aliaga region and also for Turkish consumers, according to the company’s president.
Bloomberg
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