Acting President Yemi Osinbajo has arrived in Port Harcourt, Rivers state for the inauguration of the $1.5 billion world-class Indorama Fertilizer plant in Eleme.
Mr. Laolu Akande, the Senior Special Assistant to the Acting President on Media and Publicity, made this disclosure this afternoon, today.
Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited, was privatised in 2006 after the sale of Federal Government’s 75 per cent shares to a core investor through competitive bidding process.
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Akande, had disclosed earlier that the fertilizer plant was built by Indorama Eleme Fertilizer and Chemicals Limited.
He said: “The plant with production capacity for 1.5 million Metric Tons of Urea fertilizer is considered the world’s largest single-train Urea plant.
“The plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizer per day or 1.5 MT per annum and was built with an investment of USD 1.5 billion.
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“The fertilizer plant is supported by a Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply.
“The plant will bring about a green revolution in the agriculture sector not only in Nigeria but also in other parts of Africa and beyond, in line with the economic diversification of the Buhari administration.
“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” he added.