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    Reference: 20170728
    Release date: 5 February 2018

    Promoter – Financial Intermediary

    INDORAMA ELEME FERTILIZER & CHEMICALS LTD

    Location

    Description

    Construction of a second ammonia and urea fertilizer plant next to the existing facilities of the promoter in Port Harcourt, Nigeria. The project will install the same capacity (2 300 mtpd ammonia and 4 000 mtpd urea) and use the same technology, contractors, engineering and equipment as the first fertilizer plant, thereby minimising project execution risks. It will also benefit from existing infrastructure and a long-term supply contract. The project will build on growing demand and the success of the first fertilizer plant.

    Objectives

    The project aims both to provide access to competitive urea supply for the farmers in the wider region and to export urea. The project will have a number of development benefits including increased food security by giving farmers access to competitive supply of urea.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    USD 125 million (EUR 101 million)

    Total cost (Approximate amount)

    USD 1100 million (EUR 893 million)

    Environmental aspects

    Fertilizer projects of the kind proposed fall under Annex I of the EIA Directive 2014/52/EU amending Directive 2011/92/EU, requiring an Environment Impact Assessment (EIA). Taking into account applicable national and international guidelines, the promoter has prepared an EIA and an Environmental and Social Management plan and submitted them to the Federal Ministry of Environment in Nigeria. The environmental and social details and issues will be established during the project appraisal, including conformity check with EU directives and industrial emissions requirements.

    Procurement

    The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

    Status

    Signed - 12/06/2018

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Nigeria Industry