The Indorama Group is a long standing IFC client based in Indonesia. Since IFC’s first investment, it has grown into a global business entity with over US$10.5 billion in revenues. Indorama is the world’s largest producer of polyester and PET resins as well as one of the fastest growing global petrochemical producers with a presence in 29 countries. The group’s existing fertilizer plant in Nigeria is the world largest single stream Urea Fertilizer plant with a capacity to produce 2,300 tons of Ammonia per day and 4,000 tons of granulated urea per day.

The Project is expected to cost US$1.1 billion and will be funded with an IFC A Loan of up to US$120 million, a MCCP loan of US$50 million, and up to US$830 million in B Loan syndication and parallel loans.

Port Harcourt, Nigeria

The Project will promote (i)economic diversification in Nigeria; (ii)direct and indirect employment; (iii)strong environmental sustainability by redirecting polluting wasted flared gas to productive use and introduce best in class energy and resource efficient technology; (iv)improvement in accessibility and supply of quality fertilizer to farmers; and (v)building of value chain linkages by supporting the local government to integrate smaller local NPK manufacturers into the domestic value chain.

IFC's participation will (i) provide long-term financing beyond what is generally available in the market, which is key in this sector; (ii) mobilize large amounts from other developmental financial institutions and commercial banks; (iii) continue support to a strategic client as it expands in Sub-Saharan Africa; and (iv) provide IFC's in-house technical, insurance, and EH&S expertise.

This is a Category B project according to IFC's Policy on Environmental and Social Sustainability as the potential adverse E&S risks and/or impacts which are generally site-specific are largely reversible and can readily be addressed thorough mitigation measures. Based on the available project information, key project related E&S issues/ risks include the company's capacity to manage E&S performance during construction and operation, management of labor relations and working conditions for its employees including employed through contractors, occupational health and safety during construction and operation, management of wastes and emissions, community health, safety and security and stakeholder engagement.

Please refer to the Environmental and Social Review Summary (ESRS) linked to this project SII in the IFC's project disclosure website.

Refer to the E&S Action Plan tab in the ESRS on the SPI (publishing) site.