Moroccan-Saudi vegetal oil company created

Saudi group "Safola" and a group of Moroccan investors decided to create a joint-venture specialized in producing 45,000 tons of vegetal oil per year, to be marketed in Morocco.

According to Saudi paper Al Iqtissadia, the capital of this joint venture amounts to US $ 20 million dollars. The plant construction works will kick off this January to be operational by mid-year 2004.

The Saudi group already created a similar venture with Sudanese businessmen, which will start as of next year, in a move to cover the Sudanese market vegetal oil needs, assessed at 250,000 tons/year.