Socar says to sign Turkish refinery financing within one month
ISTANBUL Feb 14 (Reuters) - Azerbaijan's state oil company Socar will sign a preliminary deal with a banking consortium on financing its refinery at Aliaga in western Turkey within one month, the chairman of its Turkish unit told Reuters on Thursday.
"Excluding financing costs, the total cost of the refinery financing will be $4 billion. Of that we will provide $1.9 billion from our own equity," Kenan Yavuz said in a telephone interview.
He said total financing in 2013 would be $800 million, part of the $1.9 billion to be funded from its own equity. Socar has so far invested $200 million from its equity in the project.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.