Azerbaijan’s SOCAR will invest $7 billion in Türkiye’s petrochemical sector, reinforcing its role as the country’s largest foreign investor.
Ankara says Azerbaijan’s state owned oil and gas company has announved significant investment in Turkiye.
Turkish Vice President Cevdet Yılmaz has hailed the move, saying it will support major growth and macroeconomic stability in the country.
He says that preliminary engineering is complete under SOCAR Türkiye’s “Master Plan,” and the government hopes the project will move forward “as soon as possible,” reiterating that every dollar of domestic output will help narrow the current account shortages.
SOCAR is Türkiye’s biggest foreign investor with over $18 billion in energy, petrochemicals, and logistics.
Its wide ranging portfolio includes Petkim, acquired in 2008, which operates 16 plants and produces 2 million tons of petrochemicals yearly, equaling about 11% of Türkiye’s output.
SOCAR states the new capacity plan, approved in December, will be implemented in phases over a 5 to 10 year period.
This industrial complex ties into Türkiye’s 2053 net-zero agenda with Yılmaz referencing R&D, including sustainable aviation fuel, as a way to decarbonize heavy industry, while lifting export competitiveness.
Yılmaz highlighted closer coordination with Baku on boosting Azerbaijani gas flows and opening the door for Turkmen gas to be transferred through Azerbaijan and Türkiye.
He also mentioned the new gas supply to Syria, routed through Türkiye, to restart power plants with 1,200 megawatts of capacity, converting gas to electricity as part of Syria’s reconstruction push.
The next steps include site selection and financing for the new complex, alongside deeper Türkiye-Azerbaijan cooperation on energy and regional connectivity.
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Türkiye’s defence minister Yasar Guler met Pakistani prime minister Shehbaz Sharif in Islamabad on Tuesday during an official visit, according to Ankara’s National Defence Ministry.
Türkiye’s premier technology festival, TEKNOFEST, is set to begin next week on 17 September at Istanbul Atatürk Airport. The five-day event is organised by the Turkish Technology Team (T3) Foundation and the Ministry of Industry and Technology.
A 16-year-old has been arrested over the killing of two officers in a gun attack on a police station in the western Turkish city of Izmir on Monday, Interior Minister Ali Yerlikaya said.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Armenian Parliamentary Speaker Alen Simonyan highlighted Azerbaijan’s desire to prevent future threats, while stressing the importance for Armenia to unblock communications and participate in the Zangezur Corridor project.
Hikmat Hajiyev, Assistant to the President of Azerbaijan, engaged in extensive discussions at the U.S. Congress on strategic partnership, regional issues, and global peace initiatives.
The Heydar Aliyev Foundation and Azerbaijan’s Academy of Sciences (ANAS) have signed a memorandum of understanding with the Vatican Apostolic Library and Archive to preserve and digitise documents on Azerbaijani history, officials confirmed on Wednesday.
Israel has launched new airstrikes on Sanaa and al-Jawf, targeting Houthi military sites in retaliation for recent attacks on its territory.
Kazakhstan and Pakistan have pledged to expand bilateral collaboration between the two countries by signing a mutual agreement hoping to bolster total trade volume to $1 billion.
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