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Indorama signs financing for $1.2-billion urea plant in Nigeria

9:49 AM MST | February 19, 2013 | Francinia Protti-Alvarez

Indorama's Indorama Eleme Fertilizer & Chemicals (IEFC; Port Harcourt, Nigeria) unit has signed a financing package to construct a greenfield $1.2-billion urea fertilizer project at Port Harcourt. Financing for the project includes $800 million in debt and $400 million in equity, Indorama says. "After investing more than $500 million over the past several years, Indorama is now setting up the world's largest urea plant at its petrochemical complex in Nigeria. With a rich pipeline of projects, Indorama is aiming to create Africa's largest petrochemical...

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