Turkish banks to take part in funding SOCAR projects in Turkey

Turkish banks are showing interest in SOCAR's (State Oil Company of Azerbaijan) projects in Turkey and plan to take part in the financing, head of SOCAR Turkey Enerji and board member of the Petrochemical Holding Petkim, Kenan Yavuz said in an interview with Vatan newspaper on March 29.

According to him, of $17 billion that will be invested in the Turkish economy by SOCAR, only 30 per cent will be financed through equity and the remainder will be drawn from the Turkish banks.

Adapted from Vestnik Kavkaza