Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

MOROCCO

Moroccos Samir Signs $605mn Financing Agreement

Moroccan oil refiner Samir signed an agreement on 3 December with lenders to receive loans for the upgrade of its Mohammedia refinery, MEES learns. The financing agreement totals $605mn, which includes $175mn worth of cover (possibly rising to $210mn) from Italian export credit agency (ECA) SACE; a local bank tranche of $265mn being provided by Wafabank, Banque Marocaine du...