The African Development Bank ( www.AfDB.org ) has signed a $75 million loan agreement with Nigeria's Indorama Eleme Fertiliser and Chemicals Limited.
The loan will enable Indorama to increase its fertiliser production and develop a port terminal for exports, supporting food production and food security across regional and international markets while fostering job creation in Nigeria.
The expansion will include developing a third urea fertiliser production line and a new shipping terminal at Indorama's facilities in Port Harcourt. The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilisers worldwide.
