Turkey’s biggest real sector investment Star to reduce foreign trade deficit by $ 1.5 billion

One of the major problems of Turkey has certainly been foreign trade deficit, for ages. Turkey needs to establish the balance between foreign revenues and import payments for a healthier financial picture. The government spends genuine effort to improve this situation.

Within this scope, Turkey looks forward to receiving major contribution from a new giant investment called Star Refinery which went into operation at ALIAGA in Izmir, yesterday. Star Refinery will produce diesel, jet fuel, naphtha, LPG and petro coke products, which will make a major contribution to economy by reducing foreign trade deficit by US$ 1.5 billion. The refinery will also create substantial employment opportunities. Turkey seeks to improve its economy by cooperating with international players such as the Socar Group.

Star Refinery which was opened with the participation of President Erdogan and Ilham ALIYEV, the president of Azerbaijan and some ministers yesterday was proclaimed the first private industrial zone of Turkey. Thus, the company’s new investments, which are expected to reach $ 2 billion in the coming period, will be realized quickly and without bureaucratic obstacles.