Socar $212 million Petlim Limancılık ve Ticaret project

Overview:

• Petlim Limancılık ve Ticaret, a wholly owned subsidiary of the State Oil Company of Azerbaijan Republic (Socar), is a construction project to build  a container port in the Aliaga district of the Izmir province on the Aegean coast of Turkey.
• Akbank provided a $212 million loan to the project company with a 13-year maturity and three-year grace period.
• Petkim Petrokimya Holding, also a Socar company, acted as guarantor for the loan.

Jon Moore - Journalist