February 20, 2016
Mohammed International Development Research and Organization Companies (MIDROC)
MIDROC Companies are owned by the Saudi billionaire, Sheikh Mohammed Hussein Ali Al-Amoudi. Al-Amoudi Companies are operating in Africa, Europe, the Middle East, and the United States of America[i].
Who is Mohammed Hussein Al-Amoudi?
Mohammed Hussein Ali Al-Amoudi is a Saudi Arabian billionaire businessman. Al-Amoudi was born July 21, 1946 from his mother Rakiya Mohammed Yassin (Wollo) and his father Haji Hussein Al-Amoudi (Saudi Arabia). The 69-year-old is close to the Saudi royal family.
He was ranked by Forbes magazine as the world’s 63rd-richest person and was worth $12.3 billion in 2012. In early March 2015, had his net worth estimated at Forbes at $10.8 billion. Mohammed Al-Amoudi’s estimated net worth declined to $8.4 billion as of February 2016, according to Bloomberg, a relative fall in net value was linked to the global fall in oil prices at the time of estimation. This son of Saudi father and Ethiopian mother, Al-Amoudi started investing in Sweden in the 1970s. His construction company MIDROC scored contract to build Saudi Arabia’s nationwide underground oil storage complex in 1988 estimated at $30 billion project. This solidified his fortune. Today the Ethiopian economy is controlled by two large major conglomerates: his MIDROC (Mohamed International Development Research Organization Companies) and EFFORT (The Endowment Fund for the Rehabilitation of Tigrai).
In addition to his economic empire, Al-Amoudi seems to have built a sophisticated security apparatus akin to shadow government inside Ethiopia–Trust Protection and Personnel Services Pvt. Ltd. Co. (TRUST). According to Al-Amoudi, TRUST is “engaged in providing protection and other professional as well as personnel services on contract basis. It also renders services related to customs clearing and forwarding services, as well as safety and modern alarm services for interested organizations. The company started its service activities with the aim of modernizing protection and personnel services within companies in Ethiopia.” Only a country ruled by lawless rebels whose primary aim is robbery of that country will allow a foreign national (Saudi Arabian billionaire) to form such a sophisticated security apparatus inside their country.
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