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The Acting
President, Yemi Osinbajo, will on Thursday inaugurate a new world-class
fertilizer plant built by Indorama Eleme Fertilizer and Chemicals
Limited in Port Harcourt.
Laolu Akande, the
Senior Special Assistant to the Acting President on Media and Publicity,
made the announcement in a statement issued recently.
According to the
presidential aide, the plant with production capacity of 1.5 million
metric tons of Urea fertilizer is considered the world's largest
single-train Urea plant.
Eleme
Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals
Limited, was privatised in 2006 after the sale of the federal
government's 75 per cent shares to a core investor through competitive
bidding process.
The statement said
that the plant, with production capacity of 4,000 metric tons of
nitrogenous fertilizer per day, was built with 1.5 billion dollars. It
is supported by a port terminal at the nearby Onne Port Complex, and a
Gas Pipeline of 83.5KM for gas supply.
It said that the
construction of the plant would lead to green revolution in the
agriculture sector in Nigeria other parts of Africa and beyond, in line
with the economic diversification policy of the Buhari administration.
The statement said
that besides making fertilizer available to farmers nationwide at
affordable cost, the plant will boost crop yield for farmers and help in
minimizing food grain deficit in Nigeria.
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