Financing promise for Morocco refinery

Saudi billionaire Mohammed Hussein Al-Amoudi has promised funds to turn around Société Marocaine d’Industrie de Raffinage (Samir), but not all shareholders are satisfied that the embattled Moroccan refiner’s problems are solved following a 16 October extraordinary general meeting. The Casablanca daily L’Economiste reported some shareholders leaving the meeting “speechless”. Others said they needed further answers to where the money was coming from, as Samir agreed a MD10bn ($1.04bn) capital increase.