SOCAR Emerges as Türkiye’s Largest Foreign Investor with $19 Billion in Investments
Baku, The Gulf Observer: Azerbaijan’s Prime Minister Ali Asadov has said that the State Oil Company of Azerbaijan Republic (SOCAR) is Türkiye’s largest foreign investor, with total investments amounting to $19 billion in the brotherly country.
Addressing the 2nd Azerbaijan–Türkiye Investment Forum held in Baku, Prime Minister Asadov noted that SOCAR has implemented numerous strategic projects in Türkiye across key sectors, including oil refining, petrochemicals, and natural gas. He added that the company continues to expand its footprint in the Turkish economy through new investment initiatives.
The Prime Minister highlighted that a document scheduled to be signed on the purchase of an 870-megawatt power plant currently operating in Türkiye serves as clear evidence of the deepening economic cooperation and SOCAR’s growing investment portfolio in the country.
Ali Asadov further emphasized that cooperation between Azerbaijan and Türkiye in the fields of industry and technology has reached a qualitatively new level in recent years. He noted that joint efforts aimed at exchanging experience, developing human capital, and applying modern technologies are contributing significantly to strengthening the industrial potential of both countries.
“In this context, the transfer of knowledge and skills is being carried out through the application of advanced technologies in manufacturing, particularly in metal processing, mechanical engineering, and other core industrial sectors,” the Prime Minister said.
He underlined that such collaboration reflects the strategic partnership between Azerbaijan and Türkiye and supports sustainable industrial growth and technological advancement in both nations.
