AfDB to fund Nigerian Indorama Eleme fertiliser plant
Indorama Eleme Fertilizer and Chemicals (IEFCL) will receive a senior loan of $100m from the African Development Bank (AfDB) to construct and operate a new gas to urea fertiliser facility in Nigeria.
The IEFCL plant is expected to make the West African country, which imports 80% of its fertilisers, self-sufficient and a major exporter.
Located at the existing Eleme industrial complex in Port Harcourt, the facility will manufacture urea for exportation and domestic markets, as well as create a few thousand new jobs during construction and operation.
The plant is also expected to cater to markets in Benin, Brazil, Ghana, India, South Africa, the UK and the US.
The project will also include an 84km pipeline and a multipurpose jetty and terminal infrastructure at Onne Port.
IEFCL, which is owned by Eleme and Indorama, is Africa's second largest polyolefin producer and has a majority market share of polyethylene and polypropylene in Nigeria.