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Nigeria Plans Investments in Petchems, Fertilizers; Saudi, Indian Firms to Participate

8:16 AM MDT | March 25, 2011 | Natasha Alperowicz

Nigerian president Goodluck Jonathan has unveiled a $10-billion plan to develop the country's large gas reserves, including investments by a Saudi firm in petrochemicals and by an Indian fertilizer producer in a fertilizer complex. Jonathan said that his "gas revolution" will lead to the creation of up to 500,000 jobs, many of them in agriculture, and help improve power supply to homes and producers in Nigeria. "The investments agreed [on Thursday] will result in foreign direct investment of about $10 billion over the next three years,"...

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