Nigerian firm plans new fertilizer and Methanol plants
17 May 2011
The agriculture and energy sectors in Nigeria are expected to benefit from an announcement that the Indorama Corporation plans to invest $1.8 billion (£1.1 billion) in new world-class fertilizer and Methanol plants.
Business Day reports that the project will take place in the Port Harcourt complex and production will commence within the next three to four years.
Manish Mundra, managing director of Indorama-EPCL, said that the projects would help the company achieve its vision of building Africa's largest petrochemicals hub in Nigeria.
Jossy Nkwocha, special adviser to the managing director and head of Corporate Communications at the firm, said the company had already contributed to improving the economy of Nigeria.
"The fertilizer and methanol projects will certainly add a lot of value to the economy of Nigeria," he confirmed. "Especially in the areas of job creation, tax revenue for government and supply of the much-needed fertilizer for agriculture and industrial purposes as well as Methanol as alternative fuel."