08 March 2013 17:15 [Source: ICIS news]
Arabiyya lel Istithmaraat said it was withdrawing because of the great complexity of the judicial process, as well as tight timelines and Istithmaraat’s relatively late entry into the process – all of which made it impossible to fully assess the viability of investing in the plant, according to a statement to French media.
Over the past months, government and labour union officials have named investors from Hong Kong,
Petroplus had acquired the refinery from Shell in 2007. Shell, for its part, ruled out re-purchasing the plant.
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