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