FMO has invested in Indorama Eleme Fertilizer & Chemicals, Sub-Saharan Africa's largest urea fertilizer manufacturer. 

FMO has increased its exposure on Indorama by taking over $20m of an existing $40m credit line of Ecobank Nigeria. 

Additionally, together with The Abraaj Group and Proparco, FMO invested equity in the company on metric tonnes per annum urea manufacturing facility based in Port Harcourt, Nigeria.

Indorama Eleme Fertilizer & Chemicals is a group company subsidiary of Indorama Corporation, a global manufacturing conglomerate operating in over 25 countries across four continents.

IEFC is one amongst the ambitious expansion projects of Indorama in Nigeria, which is building the largest petrochemicals hub of Africa.

The company is a total fertilizer solutions provider, situated on 38 hectres of land in the expansive Indorama Eleme Petrochemicals complex, Port Harcourt, Rivers State, Nigeria.

The fertilizer plant with capacity for 4,000 metric tons (MT) of nitrogenous fertilizers per day or 1.4 MT per annum.

Before Indorama started production, Nigeria had to import most of its fertilizer. FMO said that the fertilizer industry is expected to experience long-term demand growth as increases in populations and incomes drive demand for food. 

Urea is the most widely used fertilizer globally and continues to grow in market share due to its high nutrient content and ease of handling and storage.

“Within this context, Indorama is uniquely positioned due to its execution capabilities, competitive production costs, and the strength of its management team,” FMO said in a statement.

“The company will enable Nigeria as well as the larger West African region to meet the requirements of the domestic fertilizer market, while also channeling foreign exchange into Nigeria through export of urea to South and North America.”