Socar plans to invest US$10 bln in an oil refinery and petrochemical plants

Azeri energy major Socar, plans to invest US$10 billion in an oil refinery in Ceyhan on the Turkish Mediterranean and on petrochemical plants. Socar is part of a consortium that includes Turkey's Turcas, that has won a tender for a controlling stake in privatised petrochemical firm Petkim . Its other projects in Turkey include plans for an oil refinery at Ceyhan, also with Turcas.