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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.

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