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Morocco's King Launches 'Green Generation 2020-2030'

King Mohammed VI. Photo credit: MAP
King Mohammed VI. Photo credit: MAP
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Morocco's King Launches 'Green Generation 2020-2030'

King Mohammed VI. Photo credit: MAP
King Mohammed VI. Photo credit: MAP

Morocco's King Mohammed VI has led a ceremony to launch the new development strategy for the agricultural sector dubbed “Green Generation 2020-2030” in the province of Chtouka Ait Baha.

The strategy seeks to push 400,000 households to the middle class by encouraging young people to invest in one million hectares of arable lands and the creation of 350,000 jobs, Minister of Agriculture, Fisheries, Rural Development, Waters, and Forests Aziz Akhannouch said.

The plan aims to increase agricultural exports to MAD60 billion (USD6.4 billion) and the agriculture Gross Domestic Product (GDP) to MAD250 billion (USD26.5 billion) by 2030.

The new program involves improvement in the distribution process of agricultural products through the modernization of 12 wholesale and traditional markets, said Akhannouch.

A strategy on protecting forests was also launched at the same event on Friday.

Akhannouch affirmed that Moroccan forests were at stake because of the loss of 17,000 hectares of tree cover every year.

This new strategy aims to make forests a space for development. It plans by 2030, to replant 133,000 hectares of forests and to create 27,500 additional jobs, in addition to improving the revenues of ecotourism to reach an annual market value of MAD5 billion (USD532 million).

King Mohammed VI also launched the construction works of the irrigation network at Agadir’s seawater desalination station. The construction of the station is currently 65 percent complete. The unit will initially produce 275,000 cubic meters of drinking water per day, while the rest will be for irrigation.

Besides the two national strategies, the King launched a project to plant 100 hectares of argan trees in the commune of Imi Mgrouren for a budget of MAD1.8 million. The program, costing around MAD28 million (USD 3 million), will benefit 729 people from seven communes of the region.

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Aramco, Sinopec and Yasref Sign Venture Framework Agreement for Petrochemical Expansion

Photo by SPA
Photo by SPA
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Aramco, Sinopec and Yasref Sign Venture Framework Agreement for Petrochemical Expansion

Photo by SPA
Photo by SPA

Saudi Aramco, China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) announced the signing of a Venture Framework Agreement (VFA) to pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia.
According to a press release from Aramco, the agreement, coinciding with Yasref's 10th anniversary, seeks to advance engineering studies for the development of a fully integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%). The project aims to maximize operational synergies and create additional value by introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex. This is expected to enhance Yasref's ability to meet the growing demand for high-quality petrochemical products, SPA reported.
President and CEO of Saudi Aramco Amin H. Nasser said, "The Yasref Venture Framework Agreement further deepens and elevates our strategic partnership with Sinopec. The planned expansion project solidifies our commitment to product innovation and diversification. As we look forward to strengthening our collaboration with Sinopec in making Yasref a leading refining and petrochemicals joint venture, we aim to contribute to growing Saudi Arabia's position as a global leader in energy and chemicals."
Aramco Downstream President Mohammed Y. Al Qahtani stated, "The planned Yasref expansion aligns with our downstream strategy to unlock the full potential of our resources, including converting up to four million barrels per day of crude oil into petrochemicals by 2030. In partnership with Sinopec, we aim to advance cutting-edge refining and petrochemical capabilities to deliver high-value products, create new opportunities, drive industrial innovation, and enable economic transformation. This highlights our strategic, long-term partnership with Sinopec."
Sinopec President Zhao Dong emphasized, "Yasref, a flagship joint venture symbolizing China-Saudi energy cooperation, has not only served as a key driver for Saudi Arabia's local economic growth but also actively advanced petrochemical industry upgrades. We expect the Yasref expansion project to unlock new dimensions of collaborative potential as we navigate the energy transition. Sinopec and Aramco are poised to establish a world-class, integrated refining and petrochemical complex distinguished by comprehensive competitive advantages, aiming to redefine traditional energy cooperation models and expand new frontiers for more sustainable development."
The release also noted that Yasref is one of several strategic partnerships between Aramco and Sinopec. These collaborations include Sinopec Senmei (Fujian) Petroleum Company (SSPC), Sinopec SABIC Tianjin Petrochemical Co. (SSTPC), Fujian Refining & Petrochemical Company (FREP), and a new integrated refining and petrochemical complex under development in Fujian Province, China. Through these ventures, the two groups aim to strengthen energy security, fuel industrial innovation, foster long-term cooperation, and contribute to the global economy.