(MENAFN- AzerNews) By
A new oil refinery will be built in Turkey's southern Kahramanmaras province, Turkey's Haberturk newspaper reported on December25 referring to the sources in the Turkish Energy Market Regulatory Authority.
According to the newspaper, the refinery is designed for annual processing of 1.4 million tons of oil in Kahramanmaras province.
Around a half of the refined oil products will be exported to the foreign markets, while the remaining 50 percent will be used in the domestic market.
The construction of the refinery will be launched in 2018 and will be completed in 2022.
Currently, there are four refineries in Turkey, namely, in Izmir, Izmit, Kirikkale, as well as Batman provinces.
Refineries annually process 11 million tons of oil in Izmir and Izmit, 5 million tons of oil in Kirikkale and 1.1 million tons of oil in Batman.
STAR refinery is also being constructed.
STAR refinery construction is worth $6 billion. After the commissioning of the new refinery, Turkey will be able to save almost $1.5 billion a year on the import of oil products. The refinery will be able to process 10 million tons of oil per year with a warehouse capacity of 1.6 million cubic meters.
The refinery will annually produce 1.6 million tons of naphtha, five million tons of diesel fuel, 1.6 million tons of jet fuel, 300,000 tons of liquefied petroleum gas and one million tons of raw materials for petrochemical production.
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