US$1 billion project financing for Indorama’s second fertilizer plant in Nigeria

Jun 30, 2018

Standard Bank, in its role as Joint Mandated Lead Arranger alongside IFC and other DFI’s and commercial banks has supported and participated in a new US$1 billion debt financing for Indorama Eleme Fertilizer & Chemicals Limited, Nigeria. The debt facility will fund the construction of US$ 1.1 billion Line 2 of Indorama’s Urea Fertilizer plant in Port Harcourt, doubling its existing capacity of urea fertilizer to more than 2.8 million tons. 

The strong support for the financing demonstrated through the many participating banks highlights the global endorsement of Indorama, Nigeria and the project by the loan market with the project lending consortium providing finance through a combination of IFC A and B Loans and uncovered facilities.

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