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 Tarfaya.
According to Moroccan French-speaking news source, Challenge.ma, the board of directors for this Finish 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 Africa countries.