Published On: Thu, Oct 25th, 2018

Turkey is proud of its Star Refinery, a giant investment in its energy sector

Turkey is proud of its Star Refinery, a giant investment in its energy sector

Turkey has just completed its largest and most expensive investment and put it into operation. The investment called STAR refinery is reported to have cost US$ 6.3 billion and is the largest investment ever in Turkey’s real sector. It is also reported to have created employment for more than 3,000 engineers and 19,500 people from 14 countries during the peak construction period.

The refinery is considered to be very important for Turkey’s economy because it is supposed to meet 25 percent of the needs of Turkey for refined petroleum products, alone. The refinery is planned to focus on strategic products, taking into account the needs of the country’s economy and industry. The company is the first establishment in Turkey to receive Strategic Incentive Certificate.

STAR Refinery which has a capacity of processing 10 million tons of crude oil annually will produce 4.8 million tons of diesel and 1.6 million tons of naphtha per year, as well as petroleum products such as jet fuel and LPG which have serious shares in the current account deficit of Turkey. STAR Refinery will enable Turkey to make a saving of US$ 1.5 billion annually in importation of petroleum products.

On the other hand the refinery offers the opportunity to upgrade the competitiveness of Turkey thanks to its processing technology for different types of crude oil and 63 tanks and a storage capacity of about 1 million 640 thousand cubic meters.

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