(MENAFN- Trend News Agency ) Baku, Azerbaijan, Sept. 22
By Maksim Tsurkov – Trend:
About $4.8 billion has been spent on the construction of the Star oil refinery of Azerbaijan's state oil company SOCAR in Turkey as of late June 2017, Suleyman Gasimov, SOCAR vice-president for economic issues, said in an article published in a special issue of the country's Iki Sahil newspaper.
He noted that the total cost of the project is $7.4 billion.
"Some $3.29 billion of the total amount are financed through a loan from 23 banks, and the remaining part is financed through investments," the article said.
Gasimov noted that the general work on the project has been completed by 91.04 percent.
It is planned to launch production at the plant with capacity of 10 million tons per year in 2018.
The annual production of naphtha, used by Petkim as the main raw material, will amount to 1.66 million tons at the Star refinery. Along with naphtha, the new oil refinery will produce 5.95 million tons of diesel fuel with ultra-low sulfur content, 500,000 tons of aviation kerosene, 500,000 tons of reformate, 630,000 tons of petroleum coke, 240,000 tons of liquefied gas, 415,000 tons of mixed xylene, 75,000 tons of olefin LPG and 145,000 tons of sulfur. The refinery will not produce petrol and fuel oil. It is planned to refine Azeri Light, Kerkuk and URALS oil at the plant.
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