Morocco has signed an agreement with Russia to build a petrochemical complex in the North African country, official news agency MAP reported Thursday.
The agreement, which is estimated to be worth 2 billion euros (2.2 billion U.S. dollars), was signed on the sidelines of the Russia-Africa Economic Forum by the Moroccan private company MYA Energy, the Development Bank of the Russian Federation and the Russian Center for Exports in the Russian city of Sochi on Wednesday.
The petrochemical complex will have a refining capacity of 100,000 barrels a day, and will eventually reach 200,000 barrels a day, MAP said.
It will be built in the northern city of Nador on the Mediterranean, and use "the Russian expertise and latest technologies for the refining and storage of petroleum products."
Editor:Iris
