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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. “The African Development Bank is proud of its continued partnership with Indorama, the IFC and other lenders on this critical project as it is aligned with our strategic priorities to Feed Africa and Industrializewhile generating significant development outcomes in Nigeria”, said Ousmane Fall, Acting Director of Industrial and Trade Development Department at the African Development Bank.
The African Development Bank’s loan follows a strategy to support investment in private sector development to promote real sector growth.The financing package includes a $215.5 million loan from IFC’s own account, a $94.
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