The Indorama Corporation (“Indorama” or the “Group”), a Singapore-based holding company, is a long standing, repeat IFC client. Over the last 3 decades, IFC has supported Indorama’s entry into high-risk markets, helping it grow from a mid-sized, domestically focused business into one of the world’s fastest growing petrochemical and fibre companies.

In June 2016, Indorama successfully completed a 1.4 million metric ton per annum (“MMTPA”) urea fertilizer facility (“Line 1”) in Nigeria via Indorama Eleme Fertilizer and Chemicals Limited (IFL or the Company), making it the first major fertilizer export plant in Nigeria and one of the few in Africa. For Line 1, IFC provided a US$150 million (“mn”) A Loan, a US$75mn B Loan and mobilized US$150mn from several development finance institutions (“DFIs”).

IFL constructed a second urea fertilizer line located at the same site as Line 1, which increased capacity from 1.4 MMTPA to 2.8 MMTPA (“Line 2”). To support Line 2, IFC arranged in June 2018, financing totalling US$1 billion (“bn”), comprising of US$120mn A Loan, US$550mn B Loan, and US$330mn parallel loans. Line 2 was completed in April 2021. Both Line 1 and 2 projects are in operation, with capacity to produce a combined 2.8 MMTPA of urea.

IFC also financed the construction of a Feed Conditioning Unit (“FCU”), an add-on gas processing facility to Line 2. IFC provided a US$35mn A Loan and mobilized US$115mn in B/Parallel loans from commercial banks and other DFIs.

Indorama is now planning the construction of a third urea fertilizer line within the same complex as Lines 1 and 2 in Port Harcourt, Nigeria, which will increase current capacity from 2.8 MMTPA to 4.2 MMTPA (“Line 3”). A dedicated jetty/port terminal with sufficient capacity to export all the Line 3 urea, and to be located approximately 20 kilometres from the IFL site, is also planned (“Line 3 Jetty”) (“Line 3” and “Line 3 Jetty” together the “Project”).