Acting President Osinbajo To Inaugurate $1.5billion Indorama Fertilizer Plant In Port Harcourt
Acting President, Yemi Osinbajo, SAN, will inaugurate a new word-class fertilizer plant built by Indorama Eleme Fertilizer and Chemicals, today in Port Harcourt, Rivers state.
The plant with production capacity for 1.5 million Metric Tons of Urea fertilizer is considered the world’s largest single-train Urea plant.
Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited was privatized in 2006 after the sale of Federal Government’s 75 percent shares to a core investor through a competitive bidding process.
The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizer per day or 1.5 MT per annum and was built with an investment of USD 1.5 billion.
The fertilizer plant is supported by a Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply.
The plant will bring about a green revolution in the agriculture sector not only in Nigeria but also in other parts of Africa and beyond, in line with the economic diversification of the Buhari administration.
Besides making fertilizer available to farmers nationwide at affordable cost, the plant will also boost crop yield for farmers and help in minimizing the food grain deficit in Nigeria.
(Source: StellaDimokoKorkus)Follow us on Instagram @sofovilla | Follow us on Twitter @sofovilla | Like our page on Facebook via @sofovillamedia