Indorama Eleme gets $100 mn approval from African Bank urea plant in Nigeria

Indorama Eleme gets $100 mn approval from African Bank for urea plant in Nigeria

4:59 AM, 4th February 2013
Indorama Eleme gets $100 mn approval from African Bank for urea plant in Nigeria

PORT HARCOURT, NIGERIA: The Board of Directors of the African Development Bank (AfDB) has approved a senior loan of $100 million to Indorama Eleme Fertilizer & Chemicals Limited (IEFCL) to build and operate a gas to urea fertilizer plant located in Port Harcourt, Nigeria, that will serve markets in Benin, Brazil, Ghana, India, Nigeria, South Africa, the United Kingdom and the US. The project will allow Nigeria, which relies heavily (80 per cent) on imported fertilizer, to progressively become self-sufficient and a major exporter.

Ultimately, the project will act as a catalyst to support job creation in the area, in addition to striving towards achieving the Millennium Development Goals in the areas of food sufficiency and a cleaner environment. The Indorama plant, located in the existing Eleme industrial complex, will produce urea to be sold in export and domestic markets. Other project components will include an 84-kilometre pipeline and a multipurpose jetty and terminal infrastructure at Onne Port, 16 km from the project site.

© AfricaNews 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


PMC acquires Dow’s methyl tin stabilizers business

MOUNT LAUREL, US: PMC Group NA, has completed the acquisition of the global methyl tin stabilizers and solid lubricants business of The Dow Chemical C ...

Read more
EU proposes two year ban on neonicotinoid produced by Bayer, Syngenta

BRUSSELS, BELGIUM: European regulators proposed a two- year ban on some uses of neonicotinoid insecticides produced by Bayer AG and Syngenta AG becaus ...

Read more
DuPont sells Performance Coatings business to Carlyle for $4.9 billion

WILMINGTON, US: DuPont has completed the sale of DuPont Performance Coatings (DPC) for $4.9 billion in cash and the assumption of certain liabilities ...

Read more
Sumitomo to close ethylene plant at Chiba, Japan

TOKYO, JAPAN: Sumitomo Chemical has decided that it will close down an ethylene plant at its Chiba Works located in Ichihara, Chiba, Japan, by Septemb ...

Read more
Promising antidote for cyanide poisoning discovered

WASHINGTON DC, US: In an advance toward closing a major gap in defenses against terrorist attacks and other mass casualty events, scientists are repor ...

Read more
Novozymes acquires Iogen Bio-Products for $67.5 million

BAGSVAERD, DENMARK: Novozymes acquires Iogen Bio-Products, the industrial enzyme business of Ottawa-based Iogen Corporation for $67.5 million and pote ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X