SOCAR Turkey Energy has signed contracts with 23 financial institutions to build the Star oil refinery. According to the contracts, $2.69 billion will be granted for 18 years (with a 4-year beneficial period) and $600 million for 15 years (same beneficial period). The names of banks financing the project have not been given, Trend reports.
The SOCAR was reported to becsigning deals worth $3.5 billion to build the Star refinery. $3 billion of the sum was supposed to be granted by Spanish, Italian, Japanese, U.S. and South Korea banks and 15 commercial banks, with $500 million from Turkey's Garanti Bankasi for 18 years to launch the factory in 2018.
