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Indorama Eleme Fertilizer and Chemicals Limited Nigeria (IEFCL), a subsidiary of the Indorama Corporation of Singapore, plans to build a US$1.2 billion fertilizer plant in Nigeria, which will also become the single largest urea manufacturing complex in the world.
IEFCL has signed long-term financing agreements of $800 million with 16 global developmental financial institutions and commercial banks to finance the construction of the fertilizer plant in Port Harcourt, the Rivers State capital, the company said in a statement.
“The state-of-the-art manufacturing complex will produce 1.4 million tons of granulated urea per annum, using natural gas as feedstock, from early 2016,” Indorama Group managing director, Amit Lohia, said
Singapore-headquartered Indorama Corporation, the holding company of the Indorama group, is the world’s largest polyester and PET resin producer. It is also a major producer of PTA and Nitrile rubber gloves.
“This is a very prestigious project for the Indorama Group, which started in Indonesia in 1976, and has a rich pipeline of petrochemical projects globally to further build on its global petrochemical presence”, SP Lohia, Indorama’s Group chairman, said.
Its Indonesian subsidiary PT Indorama Synthetic is one of the largest producers of polyester in the country.
