Morocco rejects plan to nationalise Ethiopian billionaire Mohammed Al-Amoudi's collapsed SAMIR refinery
Billionaires Africa | 23.06.2026 16:57
Morocco's parliament has rejected a proposal to renationalise the SAMIR oil refinery, keeping the shuttered facility closed a decade after it collapsed under more than $4 billion in debt accumulated during the ownership of Ethiopian-born Saudi billionaire Mohammed Hussein Al-Amoudi, whose Corral Morocco Holdings controlled the plant from 1997 until its 2016 bankruptcy brought proceedings to a halt.
