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Azerbaijan,Turkey : LIST of 23 banks issued to finance construction of SOCAR refinery in TURKEY

June 10, 2014

For financing the construction of STAR refinery of the State Oil Company of Azerbaijan (SOCAR) in the Turkish port of Aliaga, a list of 23 banks has been issued.

BBVA, Banco Popular Espanol, Banco Santander, The Bank of Tokyo Mitsubishi, BNP Paribas, CaixaBank, Credit Agricole Corporate Investment Bank, CESCE, Deutsche Bank, JBIC, ING Bank, Intesa Sanpaolo, KFW IPEX.The Korea Development Bank, KSURE, Natixis, NEXI, SACE, Societe Generale, Unicredit, USEXIM, Export Development Canada Bank and Garanti Bankas? are among these banks.

On 6 June, the official signing ceremony of the deal for financing the construction of STAR refinery was conducted, Under the deal, the banks will allocate $3.29 bn for the construction.

Under the contract, $2.69 bn will be given for 18-year term and the balance of $600 million for 15 years. The credit is given with 4-year grace period.

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Source: TendersInfo (India)

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