INDORAMA ELEME FERTILIZER AND
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Indorama Eleme Fertilizer and Chemicals Limited is a Nitrogenous Fertilizer Complex with a capacity of 1.4 million metric tons per annum. The plant is located near Port Harcourt in the Niger Delta. Indorama is jointly owned by long-standing FMO client Indorama Corporation Pte Ltd Singapore, and by its Nigerian subsidiary Indorama Eleme Petrochemicals Limited.
What is our funding objective?
FMO's investment will go towards Indorama's production of fertilizers (urea). The total project will consist of the following elements: a gas pipeline of 84km, plants for production of ammonia and urea, granulation facilities, storage, handling and bagging. Furthermore, there will be a jetty and ship loader, a waste water treatment facility and cooling towers. Power will be produced by Indorama's own gas turbines.
Why do we fund this investment?
The project promotes the Nigerian agriculture sector, especially food security, with a positive effect on food prices and reduction of imports. This project also contributes to industrial diversification, away from the oil and gas industry. Indorama will create 350 permanent jobs, of which 250 employees will be locally sourced.
More investments
| Date | Total FMO financing |
|---|---|
| 6/12/2018 | USD 40.00 MLN |
| 3/8/2017 | USD 18.85 MLN |
| 10/1/2023 | USD 75.00 MLN |
- Region
- Africa
- Country
- Nigeria
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 2/18/2013
- Total FMO financing
- USD 30.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+