Saudi Coral Oil Group increases investments in Morocco

Feb 14, 2002 01:00 AM

The Saudi Coral Oil Group, which owns the Moroccan LaSamir Company, announced that it will increase its investments in Morocco to 12 bn dirhams ($ 1.03 bn) by 2005. The group is planning to modernize its local oil refinery and to build new processing facilities before the Moroccan oil supply sector is liberalized.
The plan was scheduled for mid year 2002, yet, the Moroccan government decided to postpone it until Lasamir and Coral Oil complete their expansion.

Source: Al-Bawaba
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