SOCAR Inks $4B Deal To Build Refinery In Turkey

Law360, New York (May 20, 2013, 8:04 PM EDT) -- State Oil Co. of Azerbaijan Republic said Monday it has awarded a $4 billion contract to a consortium of firms to build a new refinery in western Turkey that will be able to produce 10 million tons of diesel fuel and other materials when it is completed in 2023.

SOCAR said it signed the agreement with Spain's Tecnicas Reunidas SA, Italy's Saipem SpA, South Korea's GS Engineering & Construction Corp. and Japan's Itochu Corp. for the engineering, procurement of all equipment and materials, construction and commissioning...
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