$1.2 Billion for an Oil Refinery in Morocco
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Oil companies in Morocco are on track to build a refinery and pipeline network over the next four years, despite global oil prices dropping to their lowest levels in months.
The various partners in this project agreed to invest MAD 10 billion or some $1.2 billion on a new oil refinery and surrounding distribution and transport infrastructure. Another $173 million will be spent on related storage facilities in the Tangier port of Tanger-Med in the north of the country.
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Comments (1 posted):
This is for sure a failed project, who is mad to invest such colossal money on such for sure failed project.
A rational investor rather prefers to build a refinery in Algeria or Lybia.
Do they know that Morocco is close to bankruptcy?
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