Roger Edward Tamraz

Infrastructure: SUMED Pipeline

Conceived and negotiated in 1973 the well-known 200-mile long SUMED Pipeline, a pipeline designed to run parallel to the Suez Canal. Considered as “one of the world’s greatest engineering feats” (Center for Strategic and International Studies). SUMED pipeline captures 80% of oil movement share from the Arabian/Persian Gulf to Europe. SUMED provides the most reliable, secure and economic route for Arab Gulf crude oil movements to the consuming refining centres in the West. Over the years, it has gained market share to the point today where almost 80% of the oil shipped from the Arabian Gulf to Europe passes through the pipelines, with major oil companies using SUMED as their sole route to Europe.

Infrastructure: Chantiers navals de La Ciotat

Acquired by Intra Bank in 1966 and then transferred to Intra Investment Company in 1967 the former second largest shipyard of France which had specialized in submarines, patrol boats and other military platforms plus very large crude carriers (VLCCs) and conventional bulk cargo vessels for the civilian maritime industry; and, pioneered the construction of LNG and LPG carriers for oceangoing natural gas transport. Built the first major LNG Carrier, the 63,445 DWT Benjamin Franklin, in 1975, for Gazocean (Gaz de France, now Engie).

Energy: Tamoil (Tamraz Oil)

Founded and built Europe’s Tamoil by purchasing and combining all of the Italian assets of Amoco (Standard Oil Company of Indiana) in 1983, mainly a refinery and service stations. In 1986, the Libyan Government became a shareholder. Tamoil expanded in Europe (Germany, the Netherlands, Switzerland, Italy and Spain): 3,000 service stations, an extensive pipeline distribution system and three refineries with a daily capacity of 255,000 barrels of oil.

Energy: Ar-Razi

Conceived, negotiated and financed the start of Ar-Razi (formerly Japanese Saudi Methanol Company) in 1979. The Ar-Razi plants (of Sabic and Mitsubishi) are located in the methanol complex at Jubail in Saudi Arabia. The first methanol plant was constructed in 1983. It had several expansions and is the world’s largest single chemical methanol production complex with an annual production of 5 million tons.

Metals: Sunshine Mining & Kaiser Steel

Main shareholder of Sunshine Mining Company (at that time one of the six largest single-lode producers of silver in the United States) which was developing Sunshine Mine in northern Idaho, historically one of the largest producers of silver in the world. It is said to have produced 360 million ounces of silver since it was found in 1884. A report by Behre Dolbear & Company in 2007 estimated that the mine still contains “total reserves of 23.48 million ounces of silver (including a 15 percent mine recovery loss deduction) within a larger resource base containing 231.5 million ounces of silver.”

Also held diamond concessions in Central African Republic. Invested in Kaiser Steel Company, opened by the industrialist Henry Kaiser in 1942 on thirteen hundred acres — the first integrated mill west of the Rockies, providing steel plate for the West Coast shipbuilding industry.

Banking

Led the takeover, run and re-built of the largest bank in Lebanon, Intra Bank. Founder and chairman of the surviving entity, Intra Investment Company (IIC) — the first and one of the major sovereign wealth investment companies in the Middle East (the major shareholders of the company were the governments of the United States, Saudi Arabia, Kuwait, Qatar and Lebanon).

Owned and controlled banks in Europe and in Africa through Banque de Participations et de Placements (created after the purchase of the commercial interests of the Paris-based Banque Stern) and its subsidiary Banque de Placements du Zaire; and, through a Swiss bank, the Banca di Particepiazioni e Investimenti.

Chairman and owner of Milshare Holding — owned and controlled banks in the Middle East and in the United States: Bank Al Mashrek (and its subsidiary Park Avenue Bank in New York), Credit libanais (total assets of $10 billion), Capital Trust Bank and First Phoenician Bank.

Founder, chairman and shareholder of First Arabian Corporation (FAC) — owned Bank of the Commonwealth. Worked closely with the Federal Reserve System, FDIC and Michigan banking regulators to solve the bank’s problems. Merged Bank of the Commonwealth into Detroit Bank and Trust to form Comerica Corporation, a large nationwide bank holding company, number 36 in size nationally, with $71.7 billion in assets and a net worth of $7.7 billion. Became Comerica’s largest single individual shareholder.

Tamraz Banks were also partners of Societe Generale in Frab Bank, Bank of America in Egypt and Credit Agricole in the Central African Republic (B.A.C.D.).

Hospitality

In the early 1980s, became 100% owner of the Meurice Hotel Group in Paris, which owned the Meurice, Prince de Galles and Grand Hotels, as well as the famed Cafe de la Paix. At the time, the 1,000 rooms of these three hotels comprised 25% of all the luxury hotel rooms in Paris. The properties were sold to Grand Metropolitan Hotel Corporation of London in the mid-1980s.

Real Estate

• 26 Champs Elysees real estate development and shopping arcade.
• London real estate — Wilton Crescent and others in Mayfair area.
• Other prestigious properties in New York, Paris, London, Marbella, Dubai and elsewhere.