Rabat - Global Scandinavian energy company, Global Oil, has announced its decision to build a MAD 3billion Cement Plant in Tarfaya, located 1200 km south of Rabat.
Rabat – Global Scandinavian energy company, Global Oil, has announced its decision to build a MAD 3billion Cement Plant in Tarfaya, located 1200 km south of Rabat.
The decline in hydrocarbon prices hasn’t stopped Global Oil Shale (GOS) from looking to invest in a mega-cement plant in Morocco. The new plant will cover an area of about 2,500 km² east of the town of Tarfaya, along the Atlantic coast.
According to Moroccan French-speaking news source, Challenge.ma, the board of directors for this Finnish group decided to put its ambitious project of producing oil from oil shale on hold temporarily. The project had been created after signing a convention with Morocco’s National Office of Hydrocarbons and Mines (ONHYM) in 2012. This decision to temporarily suspend its primary activity is a direct result of a strategic change of plan that saw new opportunity in cement production, especially the constant demand for it in western African countries.
The cement plant will produce a yearly capacity of 1.6 million tons, half of what Morocco’s own Lafarge produces. Lafarge produces 3 million tons of cement per year, which is the highest production in Morocco. It’s hoped that the plant’s production will expand beyond the Moroccan market and export cement to other countries as well.
The Scandinavian giant has spent several tens of millions in dirhams in studies and tests of pilot production of unconventional sources of oil (biofuel, oil shale).