(Quick News Africa)- The recently commissioned chemical plant in Port Harcourt owned by Indorama will in the short term supply 360,000 metric tonnes of urea to fertilizer producers across Nigeria, a statement issued by the company has said.
Acting president Yemi Osinbajo on Thursday in Port Harcourt inaugurated a giant 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 and its construction was funded by the International Finance Corporation (IFC) and a Consortium of 15 European and African banks and Financial Institutions.
The fertilizer plant is well supported by Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply.
The construction of the plant commenced in April 2013 and completed in December 2015.
The commissioning activities were concluded in March 2016 and the commercial production started in June 2016.
“I have been informed that Indorama will this year alone supply about 360,000 metric tonnes of urea to fertilizer blenders, which, in turn, will produce NPK fertilizer for the benefit of farmers across the country. This is the kind of economic progress we’re after, in which every unlocked opportunity proceeds to unlock several others, across multiple sectors of the economy,” Osinbajo said during the commissioning.
He also used the opportunity to remind all Nigerians that time has come for them to grow whatever they eat and produce whatever they consume.
“What Indorama is accomplishing today is very much in line with President Buhari’s vision for a country that produces what it consumes and grows what it eats. If you had to sum up our vision for the Nigerian economy in a few words, these would suffice. Grow what we eat, produce what we consume,” said the acting president.
Osinbajo commended Indorama for keying into the Presidential Fertilizer initiative which President Buhari launched last year to make fertilizers cheaper nationwide.
At the end of last year, the President launched a Presidential Fertilizer Initiative, to ensure the availability of cheaper fertilizer to farmers and support agriculture, especially the production of rice, wheat and other staples.
Osinbajo said that the Buhari administration will continue to support Indorama Eleme Petrochemicals Limited, which was privatized in 2006 by the Federal government.
Prakash Lohia, who is the chairman of Indorama Corporation, said that the plant, which has the capacity to produce 1.5 million metric tons of fertilizer per annum is the largest single-train urea plant in the world.
The acting president presented a certificate of discharge to Lohia in the presence of Manish Mundra, managing director, for successfully accomplishing the post purchase agreement entered into with the Bureau of Public Enterprises (BPE) on behalf of the federal government of Nigeria.
