AfDB approves $100 mln loan for Nigeria’s Indorama Eleme – statement

The African Development Bank has approved a $100 million loan for Nigeria’s Indorama Eleme Fertiliser & Chemicals aimed at helping it boost fertiliser production, the bank said in a statement on Thursday, according to a Reuters report.

The company, a unit of Singapore-based petrochemical producer Indorama, is seeking to double annual output of urea fertiliser from 1.4 million tonnes to 2.8 million tonnes, the statement said.