Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Nigeria
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-02-27
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Indorama Eleme Fertilizer & Chemicals Ltd. (Indorama)
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
Investment Amount (USD): $ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-04-09
Abraaj Fertiliser Holdings BV
FMO-51155

Project Description

Through this financing we build upon our long term partnership with Indorama Group and The Abraaj Group.

Before Indorama started production, Nigeria had to import most of its fertilizer. Domestic production will help West Africa. 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. 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.

Investment Description
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.

Bank Documents