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Indorama Eleme secures $375-million loan for fertilizer plant in Nigeria

10:40 AM MST | February 21, 2013 | Francinia Protti-Alvarez

Indorama Eleme Fertilizer & Chemicals (Port Harcourt, Nigeria) has secured a $375-million financing package from the International Finance Corp. (IFC; Washington), a member of the World Bank Group, for the construction of Indorama Eleme's previously announced urea plant at Port Harcourt, IFC says. The loan is part of the $800-million financing package needed for the $1.2-billion project. Eleme also received a $100-million loan for the project from the African Development Bank (Abidjan, Ivory Coast) at the end of January as reported by CW. “IFC’s...

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