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Ex-Im Bank authorizes $641-million loan to refinery-petchems project in Turkey

10:51 AM MST | December 6, 2013 | Francinia Protti-Alvarez

The Export-Import Bank of the United States (Ex-Im Bank; Washington) has authorized a $640.7-million direct loan to Socar Turkey Aegean Refinery (STAR; Istanbul) to finance the export of US-made oil refinery equipment, the bank has announced. The equipment will factor in STAR's construction of a refinery at Aliaga, Turkey, approximately 30 miles north of Izmir on the Aegean coast. The refinery, on completion in 2017, will process crude oil and make refined products and petrochemicals including naphtha, liquefied petroleum gas, and xylenes. "This...

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