Indorama Eleme Fertilizer & Chemicals Limited

Nigeria Manufacturing

Indorama Eleme Fertilizer & Chemicals Limited, Nigeria (IEFCL) is an Indonesian-based manufacturer of petrochemicals and associated downstream products that operates in 19 countries.

The company will build and operate a fertilizer production facility near Port Harcourt, Nigeria, along with an 84km pipeline to transport gas to the plant.

  • Active
  • Exited

Our investment

In 2013, CDC loaned $40 million to IEFCL to create what will be the world’s largest urea fertilizer manufacturer. We followed that up with $100 million loan in 2018. The project will allow Nigeria, which is heavily dependent on imported fertilizer, to become self-sufficient.

The project is being financed with loans from a consortium of international finance institutions, including the International Finance Corporation and the African Development Bank.

Expected impact

The business will create 360 direct jobs and 250 indirect ones, as well as a further 3500 during the construction phase.

Health and safety is a top priority at the plant. Each group of workers is assigned an environmental health and safety (EHS) officer and first aider, and before every shift, workers attend an EHS briefing on the day’s tasks.

Extensive EHS training is also provided, including on defensive driving, working at height, rigging, crane operations, scaffolding, and safe use of tools. This focus meant that by the end of 2014, and with over seven million hours worked, the project had experienced zero fatalities and just one road traffic accident.

More importantly, with a growing population and limited available arable land, the project can support food security in Nigeria by bringing affordable fertilizers to the market that can boost crop productivity and land yields.

Environmental and social aspects

Health and safety is a top priority at the plant. Each group of workers is assigned an environmental health and safety (EHS) officer and first aider, and before every shift, workers attend an EHS briefing on the day’s tasks.

Extensive EHS training is also provided, including on defensive driving, working at height, rigging, crane operations, scaffolding, and safe use of tools. This focus meant that by the end of 2014, and with over seven million hours worked, the project had experienced zero fatalities and just one road traffic accident.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Nigeria
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Manufacturing
Website:
http://www.indorama.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Debt
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
February 2013
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$140m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Nigeria

European Financing Partners IV

We are invested in Indorama Eleme Fertilizer & Chemicals Limited through European Financing Partners IV, which is managed by European Financing Partners. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Nigeria
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Manufacturing
Website:
http://www.indorama.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
European Financing Partners IV
Fund Manager:
European Financing Partners
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
April 2013
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Nigeria

Abraaj Africa Fund III

We are invested in Indorama Eleme Fertilizer & Chemicals Limited through Abraaj Africa Fund III, which is managed by Abraaj Capital. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Nigeria
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Manufacturing
Website:
http://www.indorama.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Abraaj Africa Fund III
Fund Manager:
Abraaj Capital
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
October 2016
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Nigeria