SOCAR Turkey Energy Company, which is one of the largest investors in Turkey, has purchased a new office in Vadistanbul residential and business center in Istanbul.
A relevant agreement was signed on January 6, Azerbaijan’s state energy company SOCAR said.
SOCAR Turkey Energy will move to its new office in 2016.
The company bought a block worth $75 million covering an area of 19,000 square meters in Vadistanbul Bulvar.
Speaking at the opening ceremony President of SOCAR Turkey Energy Kenan Yavuz said choosing a building for a company which has an investment portfolio of $20 billion and develops rapidly, was conducted taking into account the requirements of today and future.
"We took into account our future requirements and chose “Vadistanbul Bulvar," he said.
Purchase of the building will be provided by considering the credit allocated by the Turkish Odeabank with the condition of non-payment in first two years.
Yavuz also added the credit is not only profitable, but it is also an indicator of high trust to the projects held by SOCAR in Turkey.
SOCAR is one of the world's most well-established oil companies, active in Turkey since May 30, 2008. SOCAR is involved in a number of major investment projects in Turkey, including the construction of TANAP, Star refinery, and others. The volume of investment of SOCAR in Turkey's economy will reach $5 billion by late 2014.
According to Azerbaijan’s State Statistics Committee, the trade turnover between the two countries amounted to around $1.462 billion in January-October 2014.
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