Amer Group Postpones Morocco & Jordan Projects Over Money Transfer Restrictions

By Yomna Yasser On Mar 31, 2013

Mansour Amer, Chairman Group and Managing Director of Amer Group (AMER.CA) announced that the postponement decision as regard to the implementation of Porto Aghadir in Morocco and Porto Dead Sea in Jordan was due to the difficulty of transferring money needed for these projects , adding that restrictions set by the Central Bank of Egypt (CBE) hinder the company from money conversion to meet its foreign obligations.

Amer revealed the company’s intention to introduce new projects within 10 to 15 days, but he did not disclose the nature of these projects.