5/30/2008

SOCAR & Turcas submits down payment for Petkim

Today’s Zaman - Turcas Petrol A.S. has announced that SOCAR & Turcas Energy JV, the winner of last year's Petkim privatization tender, paid $1.02 billion to the Privatization Administration (OİB) as the down payment of the agreed upon sum. Azerbaijan's SOCAR-Turcas-Injaz consortium had submitted the second highest bid in the tender on July 5 for the block sale of a 51 percent state-owned stake in Petkim -- Turkey's largest petrochemicals producer.

ENGLISH