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The land of SOCAR Turkey in Aliaga Declared as the first Special Industrial Zone in Turkey

The land of SOCAR Turkey in Aliaga, Izmir, encompassing nearly all its investments, was announced as the Special Industrial Zone. All subsidiaries of SOCAR Turkey will be able to take advantage of all incentives to be granted for the first Special Industrial Zone in Turkey

The land of SOCAR Turkey in Aliaga was granted with the title of being the first Special Industrial Zone in Turkey upon the Presidential decree on October 19, Friday when the STAR Refinery was inaugurated in a great opening ceremony. The Presidential decree was announced in the meeting attended by Mr. Recep Tayyip Erdogan, the President, Mr. Ilham Aliyev, the President of the Azerbaijan Republic, Mr. Mustafa Varank, the Minister of Industry and Technology, and Mr. Rovnag Abdullayev, the President of SOCAR. The subsidiaries of SOCAR Turkey, situated on the land of 1,453 hectares in Aliaga, Izmir, such as STAR Refinery, Petkim, Petlim Container Terminal, Petkim RES (Wind Power Plant) and SOCAR Depolama will be able to take advantage of all incentives and facilities to be granted for the Special Industrial Zone.

Mr. Zaur Gahramanov, the CEO of SOCAR Turkey, said it was a great honor for them to see that the investments, they have been making without any interruption for 10 years, were crowned with the title of the 'Special Industrial Zone'. Reminding that SOCAR Turkey took a step in the Turkish market upon acquisition of Petkim in 2008, Mr. Gahramanov said: "We have realized giant projects such as STAR Refinery, TANAP, Petlim Container Terminal, Petkim RES (Wind Power Plant) up until now. Currently having a total investment expenditures of 14,2 billion dollars, SOCAR Turkey will have increased this figure up to 19,5 billion dollars when all its projects are completed."

Emphasizing that their happiness doubled up when they were granted with the title of the Special Industrial Zone on October 19 when the opening ceremony for the STAR Refinery was held, Mr. Gahramanov remarked: “All our investments except for TANAP are within the borders of the district of Aliaga, Izmir. The new petrochemical investment, we plan to initiate in the following year, will rise here, again. We obtained the first Strategic Investment Incentive Certificate for the STAR Refinery before. And now, we're so happy to be granted with the title of the first Special Industrial Zone following our application for the land hosting the projects of SOCAR Turkey. We have realized giant projects in Turkey so far. We will keep working without any interruption to improve the economies of both Turkey and Azerbaijan in future."

Highlighting that they, as the Special Industrial Zone, will accelerate their business processes even more, Mr. Gahramanov continued his words: “We rolled up our sleeves to become a great integrated facility across Turkey with a focus on the field of petro chemistry determined as the industry of top priority by the government. STAR Refinery, constructed with an investment value of 6,3 billion dollars, became the first example of the petro chemistry-refinery integration across the country. We realize all our investments in the fields to provide a contribution to meet the current deficit across this industry. I would like to take this opportunity to extend my thanks once again to Mr. Recep Tayyip Erdogan, the President, Mr. Mustafa Varank, the Minister of Industry and Technology, and all officials who have always trusted and supported us in our investments."

 

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