Business

AfDB approves $100 millon loan for Nigeria’s Indorama Eleme

Isaac UmunnaComment(0)

The African Development Bank has approved a $100 million loan for Nigeria’s Indorama Eleme Fertilizer & Chemicals aimed at helping it boost fertilizer production, the bank said in a statement on Thursday.

The company, a unit of Singapore-based petrochemical producer Indorama, is seeking to double annual output of urea fertiliser from 1.4 million tonnes to 2.8 million tonnes, the statement said. Reuters

 

Isaac Umunna

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