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23rd August 2018

EAIF loan supports doubling of production at Nigeria’s largest fertiliser plant

Project will raise crop yields and create new jobs

The Emerging Africa Infrastructure Fund (EAIF) will back the expansion of a fertiliser plant in Nigeria, contributing to higher crop yields and supporting more than 600 permanent jobs.

EAIF’s 11-year US$35 million loan to Indorama Eleme Fertilizer & Chemicals Ltd (IEFCL) is part of the financing of a US$1.1 billion expansion of the company’s existing fertiliser plant at Port Harcourt.

The new plant is to be built alongside the existing facility. It will double the company’s output annually to 2.8 million metric tonnes.

“A successful and productive agriculture sector is essential to Nigeria’s future. The new plant for Indorama Eleme can benefit farming communities across Nigeria, which will help combat poverty, stimulate employment and improve the resilience of the Nigerian economy,” said EAIF Chair Patrick Crawford.

Projects like IEFCL’s Port Harcourt expansion are of fundamental strategic importance and of exactly the type PIDG and its companies are there to support,” he added.

The project directly supports the Nigerian government’s initiative to eliminate the importation of urea and to meet rising local demand for urea fertiliser. Construction is expected to take up to 37 months.

EAIF previously provided loans of US$48.8 million towards construction of IEFCL’s first Port Harcourt fertiliser plant, which is now operating at full capacity.

The new plant will share the existing infrastructure that supplies energy, water and port facilities.

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Read more on EAIF’s website.