Nigeria's Giant world-class Fertilizer plant to ensure the availability of Cheaper Fertilizer to Farmers
Acting President, Prof. Yemi Osinbajo today in Port Harcourt inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion.
The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizers per day or 1.5 MT per annum. The world-scale plant has been built with an investment of USD 1.5 billion, a huge Foreign Direct Investment, funded by the International Finance Corporation (IFC) and a Consortium of 15 European and African banks and Financial Institutions.
Governor Nyesom Wike of Rivers State, in his speech said that for Indorama to invest a whopping $1.5 billion in the state, it shows that the state is safe for investors and their investments. He called on other investors to emulate the footsteps of Indorama.
Illustration Photo: Technician sprays the field with pre-emergence herbicide after planting cassava stems at Orin Ekiti, Nigeria (credits: International Institute of Tropical Agriculture / Flickr Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0))