SOCAR to increase investments in Turkey after the recent coup attempt

Hurriyet - SOCAR’s investments in the country will continue increasing after the recent failed coup, said chairman of SOCAR Turkey 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 Turkey.” This stance has encouraged SOCAR’s investment appetite in Turkey, he continued.


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

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SOCAR; Turkey; investment; coup attempt; economy