Turkey to approve IOC, Calik refinery
Indian Oil Corp and Calik Group to build a refinery with an investment of $4.9 bn at Ceyhan.
By Agencies |
ISTANBUL: Turkey's energy regulator will approve an application by Indian Oil Corp Ltd, India's state-run oil refiner, and the Turkish construction company Calik Group to build a refinery at Ceyhan on Turkey's south coast.
Permission for the construction of the refinery, which Calik says will cost 4.9 billion dollars and process 15 million tonnes of crude a year, may be given as early as May 25, Yusuf Gunay, the regulator's chief, said on Monday.
Turkey may agree "shortly" to a partnership of Petrol Ofisi AS and OMV AG and a venture between State Oil Company of the Azerbaijan Republic and Turcas Petrolculuk AS to each build a refinery at Ceyhan, after the completion last year of a pipeline to carry crude to Ceyhan from the Azeri capital of Baku.
The total investment in the three refineries will be about 11 billion dollars.
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