OREANDA-NEWS. December 06, 2012. On December 5, a presentation ceremony of the first certificate of the Republic of Turkey on promotion of strategic investments was held at Ciragan Palace, Istanbul.

 It was noted at the ceremony that within the new law on “Investments Incentives Act”, approved by Turkish Grand National Assembly, the biggest companies investing in this country will be presented a certificate. According to Turkish Economic Minister Zafer Chaglayan, the first certificate is presented to the State Oil Company of Azerbaijan and he presented the document to Rovnag Abdullayev. In his speech, the minister pointed out the important role of STAR Petroleum Refinery, founded in Aliaga region of Izmir on October 25, 2010, in the strengthening of relations between the two countries. He also stated that the Refinery would support perspective development of Petkim and strengthening of Turkish economy. Head of SOCAR-Turkey Enerji A. Є. Kenan Yavuz spoke about the measures on extension of Petkim and noted that new Oil Refinery with annual capacity of 10 mln tones, would eliminate the dependency of Petkim on raw material, increase the productivity, and competitiveness. As he stated, SOCAR‘s aim is to change the Petkim peninsula into a production complex owning oil refinery, petrochemistry, energy and logistics integration. Speaking about TANAP pipeline, Kenan Yavuz noted that together with this project, SOCAR’s investments in Turkish economy would reach USD 17 bln within 2008-2018 and SOCAR would be a real greatest investor in Turkish economic history.