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Mohammed Al Amoudi #61 in Forbes Billionaires List

March 8, 2012

He also owns oil refineries in Morocco and Sweden and oil fields off west Africa. His refiner, Preem, created an innovative biodiesel made from tall oil which cuts emissions by 16% when compared to traditional diesel oil; Al Amoudi had to step in with a $300 million capital injection to Preem to help restructure bank loans.

In July, His Midroc Gold discovered over 33,000kg of gold deposists after seven years of exploration; this will boost production already started at two other mining locations.

In September, he will reopen two newly refurbished Ethiopian resorts – Blue Nile and Lake Tana – part of his eight hotel empire across Northern Africa. He plans to add to that next year with the African Union Grand Hotel which is a $200 million 6-star hotel that is currently being built in Addis Ababa next to the African Union headquarters for the union’s 50th anniversary celebration.

Source – forbes.com

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