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Socar to borrow $500m from Sberbank for Turkish refinery

Socar to borrow $500m from Sberbank for Turkish refinery
26.04.2014 11:45

Azerbaijan's state energy company Socar is going to borrow about $500 million from Sberbank to finance construction of a refinery in Turkey's Aliaga region.

The loan agreement will be signed on May 5, said Suleyman Gasimov, Socar vice president for economic affairs.

The refinery is estimated to cost $5.5 billion.

Bakudaily.az

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