Turkey's Denizbank in talks with SOCAR over $1.7 bln loan deal

BURSA, March 21 Fri Mar 21, 2014 8:59am EDT

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BURSA, March 21 (Reuters) - Turkish lender Denizbank is in talks with Azeri state oil company SOCAR over a $1.7 billion loan package for investments excluding TANAP pipeline project, Denizbank Chief Executive Officer Hakan Ates said on Friday.

SOCAR owns Turkish petrochemical company Petkim, and is building the $5.5 billion Star refinery in partnership with Turcas Petrol to supply feedstock to Petkim and cut Turkey's dependence on imported refined products.

(Reporting by Evrim Ergin; Writing by Ece Toksabay; Editing by Dasha Afanasieva)