Moroccan energy company to build refinery in north with Russian help

Morocco’s MYA Energy, Russian Development Bank and Russia’s export center agreed to build a 2 billion euro refiner with an initial 100,000 barrel per day capacity in northern Morocco.

The refinery is designed to reach a target of 200,000 barrels per day and will offer thousands of jobs to locals, MAP news agency said.

Citing a statement of MYA Energy, MAP added that the project is considerate of Morocco’s environmental engagement notably in terms of cutting greenhouse gas emissions.

Russian partners will offer their know-how in terms of petrochemical complexes, said the agency, adding that the project will foster Morocco’s energy leadership on the continent.

The plant will also be a boon for the western Mediterranean port of Nador, it said.

The deal was singed on the sidelines of the Russia-Africa summit unfolding in Russia’s Sotchi where Morocco is represented by head of the Government Saad Eddine El Othmani.