Morocco: Samir crisis shows no signs of abating

Issue 319 - 10 Mar 2016
Amid continued questions over Saudi billionaire Mohammed Hussein Al-Amoudi’s ability to fund the turnaround of Société Marocaine d’Industrie de Raffinage (Samir), the company that owns the embattled refiner remains committed to resuming production, its Mohammedia-based president-director-general Jamal Ba-Amer said following the latest court hearings. Creditors have been seeking repayments at the Casablanca Tribunal de Commerce, where Samir on 7 March lodged a new recovery plan, which showed the company could emerge from its current difficulties. But there is growing scepticism in Morocco that its sole refiner can survive in its current form.

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