SOCAR to increase investments in Türkiye after the recent coup attempt

Hurriyet - SOCAR’s investments in the country will continue increasing after the recent failed coup, said chairman of SOCAR Türkiye Vagif Aliyev.


Aliyev said that the company is “proud of the honorable and globally praised resistance of the coup attempt by the people and the government of the Republic of Türkiye.” This stance has encouraged SOCAR’s investment appetite in Türkiye, he continued.


Expressing deep sorrow for the people who lost their lives on Friday, Aliyev said that SOCAR does not agree with concerns that Türkiye’s economy and investment climate will deteriorate. He explained that SOCAR Türkiye will complete Türkiye’s first private sector oil refinery, STAR, in Izmir in 2018, which will reduce Türkiye’s current account deficit. The company’s investments in Türkiye are over USD 18 billion.

Image of Inauguration of Izmir Star Refinery
SOCAR; Türkiye; investment; coup attempt; economy