Azerbaijan will become the biggest investor in Turkey in the next 10
years, according to Kenan Yavuz, Executive Director of SOCAR & Turcas
and member of the Board of the petrochemical complex Petkim, Trend
reports.
Turkey needs raw materials and Azerbaijan needs access to world
markets, Milliyet cites Yavuz.
He said that SOCAR & Turcas and Petkim have prepared joint strategic
plans for 2015, 2020 and 2040.
Until 2015 the joint investments of SOCAR & Turcas and Petkim will
reach $5 billion. Petkim will become the biggest industrial complex in
Turkey in 2020 and plans to be among the top 30 in Europe, in terms of
production.
Vagif Aliyev, head of the management of foreign investments of SOCAR
and head of the Board of Directors of Petkim, said that SOCAR plans to
increase investments into Petkim. SOCAR-Turcas plans to invest $20
billion into the development of Petkim.
