Kanan Yavuz: Fraternal ties of Turkey and Azerbaijan revive the "Silk Road" again

Baku. 21 October. REPORT.AZ/ "Fraternal relations between Turkey and Azerbaijan revive the "Silk Road" again. Izmir is transformed into a strategic base."

Report informs, Chief Executive Officer of the subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR) in Turkey - SOCAR Turkey Kenan Yavuz said at the conference entitled "Strategic framework, Izmir": Izmir on the path of becoming a center of logistics and production in Turkey and the Mediterranean Sea. Historically, the "Silk Road" is crossed in Izmir", which organized by the Caspian Strategic Institute.

He stated that, SOCAR has invested in Izmir more than 10 billion USD, to Turkey more than 20 billion USD: "Now is the time of revolution in manufacturing. It is expected commissioning of the port Petlim. Works on the road Izmir-Istanbul moving fast. Thanks to the refinery STAR, Izmir is transformed into a "star."

SOCAR has started operations in Turkey in 2008 after the privatization of Petkim Holding and carries out activities in the country under the brand of SOCAR Turkey. According to the structure of the founders of the company SOCAR Turkey, 87% of SOCAR Turkey Energy A.Ş belongs to SOCAR. On August 14, 2015 the banks Goldman Sachs and JP Morgan (Goldman Sachs International) bought 13% stake in SOCAR Turkey for 1.3 bln. USD.