Sweden
Although he has important business interests across the world, including the US, Sheikh Al-Amoudi is most notable for being the largest foreign investor in Sweden. His commitment to Sweden was honoured with the Order of the Polar Star by King Carl XVI Gustaf of Sweden (Commander First Class). The Order is only awarded to important foreigners for services to Sweden or to members of the Swedish royal family.
The Sheikh’s primary interest in Europe has been in building up a presence in Sweden’s energy, manufacturing, construction and consultancy sectors in order to provide not only employment but also the skills that can be transferred to Africa to the great benefit of both countries.
His main investment in Sweden is in the wholly-owned Corral Petroleum which owns major oil refining and retail assets in Sweden and in Morocco. Corral acquired OK Petroleum (later re-named Preem Petroleum) in 1994 which then acquired around 7% of the Swedish retail oil sector. Preem is now the largest oil refiner in Sweden. It provides major storage facilities of strategic importance to the country as well as owning, directly or indirectly, exploration rights in the North Sea and Baltic.
His other European interests are managed through two Swedish construction companies ABV Rock Group, also operating in Saudi Arabia, and Midroc Europe. Midroc Europe is engaged in property development and management, housing and business premises and an extensive range of consulting and contracting services in the automation, electrical, anti-corrosion, mechanical and environmental sectors.
European Focus
Although he has excellent relationships in the United States, having contributed to the Clinton Foundation and been honoured by the World Bank and the State Department, he has, in recent years, recognised the importance of recalibrating the relationship between Europe and Africa on terms of equality and friendship. He is an advocate of Africa in Europe and of Europe in Africa, seeing the two Continents as twenty-first century partners in improving conditions for their respective peoples.
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