Ethiopia:New Update on Sheikh Ali Al Amoudi


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Al Amoudi owns a broad portfolio of businesses in construction, energy, agriculture, mining, hotels, healthcare and manufacturing amongst others. His businesses are largely to be found within two conglomerate holding and operating companies, Corral Petroleum Holdings and MIDROC, both which he owns and manages. He employs over 70,000 people through these companies. Al Amoudi's construction company consortium, Mohammed International Development Research and Organization Companies, also known as MIDROC, won a contract to build Saudi Arabia's estimated $30 billion nationwide underground oil storage complex in 1988. MIDROC acquired Yanbu Steel in Saudi Arabia in 2000. In addition to his business interests in Ethiopia, he also owns oil refineries in Morocco and Sweden (Svenska Petroleum Exploration AB) and is engaged in energy exploration and production off West Africa and elsewhere. His Addis Ababa Sheraton is said to be among the finest hotels in Africa. He has recently pledged US$275 million alongside other Saudi and South Korean investors through MIDROC to finance a factory to build Saudi Arabia's first car, to be called Gazal-1, in a project initiated by King Saud University and, in September 2011, it was announced that he planned to invest around US$1.07bn (4bn Saudi Riyals) in two major Saudi industrial projects (phosphate derivatives and sulfur) in Ras Al Khair [Eastern Region] and Jubail Industrial City respectively.

Ethiopia is on the verge of experiencing acute malnutrition if urgent food aid is not made available, an international NGO, Save the Children has warned. An estimated $245 million is needed to provide food to people in the drought afflicted areas. “We only have until the end of February for the international community to pledge and disburse more funds for urgently needed food aid. It can take around 120 days to purchase and transport food into Ethiopia through Djibouti, so we all must step up now otherwise children and families in dire need of assistance could simply not have any food from outside,” warned John Graham, the Country Director of Save the Children Ethiopia. displayAdvert("mpu_3") We all said ‘never again’ after the tragedy of 1984, and again after the famine in Somalia in 2011. So now is crunch time and they must step up before it’s too late Ethiopia’s worst drought in 50 years has left more than 10 million people in dire need of food assistance among whom are six million children. Save the Children says about 400,000 children will need urgent supplementary feeding or risk facing mental development delays. “In 2016, when we have all the right systems in place to prevent a

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