Société Anonyme Marocaine de l’Industrie du Raffinage (Samir) and an international consortium comprising Italian company Snamprogetti and Turkish company Tekfen Construction and Installation have signed a lump sum contract equivalent to Dh5.4bn for the design, construction and commissioning of the Mohammedia Refinery Upgrading Project in Morocco.


This project meets all the elements of the national oil strategy as identified by the High Royal Directives of May 4, 2004. Its implementation will allow Morocco to possess a modern and efficient refining tool that will contribute to improving the quality of refined products as well as reducing air emissions and achieving environmental objectives.


The project is part of the large modernisation programme of the Mohammedia refinery, estimated at Dh6.7bn, achieving the objective of the investment convention signed on December 20, 2004 between the Moroccan government and Samir.


The implementation of this project will enhance the country’s security of supply in oil products, strengthen the protection of environment, adapt the profile of the production to the local demand and improve the operational performances of the company to face the total opening of the hydrocarbons market by 2009. In the same way, the realisation of this project will produce positive repercussions on the Moroccan economy, especially by increasing the adds value and the jobs created.


The financing of the project will be assured by Samir equity of up to Dh2.7bn (of which Dh700mn has already been committed), while the Moroccan banks will contribute up to Dh2bn, the African Development Bank will contribute with Dh700mn, and international banks will contribute the balance of funding required.


During the same ceremony, Samir signed with engineering company Foster Wheeler Italia (FWI) a project management consultant (PMC) contract for a value equivalent to Dh127mn. According to this contract, FWI specialists will form with Samir engineers the joint project management team, who will be responsible for the supervision of all the design, construction and commissioning works.