(MENAFN) Azerbaijan's national oil company SOCAR is planning to invest USD10 billion in Turkey's petrochemical firm Petkim in the next seven to eight years, The Journal of Turkish Weekly reported.
SOCAR invested USD2.2 billion in Petkim between 2008 and 2014 and plans to invest USD10 billion in the next 7-8 years, the Azerbaijan Press-Release Agency quoted SOCAR president as saying.
Meanwhile, Turkish Deputy Prime Minister said the trade volume between Turkey and Azerbaijan had surpassed USD5 billion in 2014, with aims to reach USD15 billion in trade by 2023.
SOCAR president also signed a protocol agreement for strategic cooperation with the president of the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.