Indorama Eleme Fertilizer & Chemicals Ltd
BIO has granted a USD 15 M loan to Indorama Eleme Fertilizer & Chemicals Ltd, for the construction and operation of a 1.4 M MTPA Nitrogenous Fertilizer Complex.
Amount
€ 11,368,500.00
Type of investment
Debt
Development impacts
- Local economic growth
Beneficiary locations
Investment field
Enterprises
Activity
Chemicals - Fertiliser
Organisation
Indorama Eleme Fertilizer & Chemicals Ltd
Domicile
IEFCL was established to construct and operate a 1.4 M MTPA (Million Tonnes Per Annum) Nitrogenous Fertilizer Complex comprising of
- a 2,300 MTPD (Million Tonnes Per Day) Ammonia Plant,
- a 4,000 MTPD Urea Plant2,
- a 4,000 MTPD Urea granulation plant and other infrastructure and utilities.
Around 80% of Nigeria’s 98 million ha land is fit for agriculture, but currently only one-third is cultivated, mainly because of the inconsistent availability of fertilizer.
Impact
SDG Goal 2: End hunger
The use of fertilizers should improve agricultural productivity and therefore food security.
SDG Goal 13: Climate Action
Natural gas emissions will be reduced by being reused in fertilizer production.
Development impacts
-
Local economic growth
Employment effects at investee company:
Over the whole construction period of the fertilizer plant (3y) a total of 3,000 workers will be employed.Decrease in the country's dependency on imports:
By producing fertilizers in the country, the import dependence will be reduced.
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Investment Companies & Funds
Metier Capital Growth Fund III
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Subsidy