In its executive board meeting, Chairman Mustafa Koc of oil refiner Tupras (Turkiye Petrol Rafinerileri A.S.) authorized the management to make feasibility works for a new refinery investment. The management was also authorized for feasibility works to increase the existing capacity. An investment of US$400 million in the company will continue, the board also decided. A 51% share in Tupras was transferred to a Koc-Shell consortium on Jan. 26, however the court suspended the sales process. However, no action has been taken by authorities yet.