SUBSIDIARY NAME
VERITAS IIB MOROCCO
COUNTRY
MOROCCO
SECTOR/ INDUSTRY
ENERGY
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
JULY 16,2021
ACQUISITION VALUATION
$440 MILLION USD
TOTAL ASSET VALUATION
4.4 BILLION USD
ENERGY-OIL-REFINERY-GAS
VERITAS IIB MOROCCO: IIB DG acquired Veritas IIB Morocco in July 15, 2021 and they agreed that the funds will be used for the design, implementation, building, installation, roll-out, with the specific intent of addressing job creation, poverty alleviation and economic development in the Region. IIB will be also working on the renewable energy project via biogas technology producing; Electricity Projects; the hiring of equipment, Machinery, Offices Staff Security and Consultants.