Azerbaijan eyes to earn annual 600 mln USD from STAR oil refinery

Baku. 1 July. REPORT.AZ/ STAR oil refinery, which built in Turkey by the State Oil Company of Azerbaijan Republic (SOCAR) will earn 600 mln. USD annually.

Report informs, the enterprise will launch in 2018.

According to the information, STAR's launching will put an end to dependence of Turkish petrochemical sector on abroad and official Ankara will annually save 1,2 billion USD. STAR will meet 3,5% of Turkey's balance of payments deficit.

Notably, 5,65 billion USD invested in STAR and it's considered the biggest project financing in the history of Turkey.

12 000 employees, including 1 972 engineers from 14 countries involved in the construction of the plant.