MasterwebNews 27/7/17 - Osinbajo to inaugurate $1.5bn fertiliser plant today


[ Masterweb Reports: Isiaka Wakili reports ] - Acting President Yemi Osinbajo will today inaugurate a new fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited in Port Harcourt, Rivers State.


Osinbajo’s spokesman, Laolu Akande in a statement yesterday, said the plant, with production capacity of 1.5 million metric tons of urea fertilizer, is considered the world’s largest single-train urea plant.


He stated: "Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited was privatized in 2006, after the sale of Federal Government’s 75 percent shares to a core investor through a competitive bidding process.


"Besides making fertilizer available to farmers nationwide at affordable cost, the plant will also boost crop yield for farmers and help in minimizing the food grain deficit in Nigeria," Akande said.


*Photo Caption - Nigeria Acting President Yemi Osinbajo

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