Turkey’s Tekfen realized construction projects for $2 bn in Azerbaijan


November 6, Fineko/abc.az Work conducted by Turkish company Tekfen in Azerbaijan are estimated at $2.204 bn.

The Company reports that most of the work fulfilled together with joint venture AZFEN, is estimated at $787.838 million was realized by 89% and will be completed by 31 December 2018.

"The second largest project is the construction of Sangachal Terminal within Phase II of Shah Deniz Project. The Sangachal Terminal project is estimated at $480.318 million. It completion is scheduled for 14 October 2017. The project to follow is construction of the SOCAR Tower building worth $414.237 million. Its completion date is 15 December 2017," Tekfen informed.

The list also includes the project of installation of the topsides production platform of Phase II of Shah Deniz Project, which is estimated at $315.027 million (the project will be finished on 31 December 2017) and construction of the $94 million worth building of the Ministry of Taxes of Azerbaijan. Cost of projects being implemented without participation of joint venture AZFEN are estimated at 222.269 million.

Joint venture AZFEN was established in January 1996 with equity stakes of the State Oil Company of Azerbaijan (60%) and Tekfen (40%).


Keywords: Tekfen