Indorama invests $3.2bn in its Nigerian operations

Despite the economic challenges facing all sectors of the Nigerian economy, the Indorama Eleme fertilizer and Chemicals limited (IEFCL) in Port- Harcourt, Rivers State has so far invested a total of US$ 3.2 billion in its operations in Nigeria.

It has also raised its operational bar by building a multi-purpose Port Terminal in Onne Port Complex in Rivers State costing $130 million.

In its elaborate reports contained in its monthly magazine, Indorama-Nigeria Impact, December 2018 edition, IEFCL revealed that it has made an unprecedented impact by boosting and adding value to Nigeria’s economy and her maritime sector.

The minister of state for petroleum Resources, Dr. Ibe kachikwu, said the company from 2006 has, “turned the moribund terminal facility into a profitable top-of -class facility investing so far a total of $3.2 billion in its operations in Nigeria”.

Currently, the world first class fertilizer plant train produces 1.5 million metric tons of urea fertilizer per annum as well as its on-going construction of a train project, which on completion would also produce 1.5 million metric tons per annum. This will make the company’s fertilizer production to be 3 million metric tons per annum by 2021.

Source: Independent

 

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...