SOCAR Turkey Energy, Turkish Gubretas to set up joint venture

Baku, February 1, AZERTAC SOCAR Turkey Energy, an affiliate of Azerbaijan`s state oil company in Turkey, and Turkish Gubretas have signed a letter of intent to create a joint venture engaged in the production and marketing of chemical fertilizers. Both companies will have a 50 percent stake in the venture. Gubretas specializes in the production and marketing of chemical fertilizers, including solid fertilizers, liquid fertilizers, powder-based fertilizers and organic fertilizers. It also provides soil analysis services to farmers.