Indorama Eleme Fertilizer Chemicals Limited (DFC-2024-INDORAMAELEME)

Countries
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Specific Location
Port Harcourt
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Indorama Eleme Fertilizer and Chemicals Limited/SPV Line III
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,250.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jul 29, 2024


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of the development, design, financing, construction, operation and maintenance of the Borrower’s third ammonia-urea fertilizer facility in Port Harcourt.

The Project is expected to result in 1.4 million metric tons per annum of additional urea fertilizer to be exported from Nigeria, largely to destinations in Latin America and Africa.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The Project has been screened as Category A because it requires an expansion of a large-scale fertilizer manufacturing complex and has the potential for accidental releases of hazardous gases (methane, hydrogen, and ammonia). In addition, the Project’s greenhouse gas (GHG) emissions have been estimated to be 688,100 tons of carbon dioxide equivalent per year (DFC’s share of GHG emissions has been estimated at 130,945 tons of carbon dioxide equivalent per year) which exceeds DFC’s threshold of 100,000 tons of carbon dioxide per year for Category A projects.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Indorama is based in Singapore, and has grown into a global business entity with US$29.6 bn in revenues. Indorama was established in 1976, and it is wholly owned by Mr. S.P. Lohia and family. Indorama manufactures polyester, polyethylene terephthalate (“PET”) resins and bottles, polyester intermediates, polyethylene, polypropylene, spun yarns, fabrics, disposable gloves, hygiene, and fertilizers. Indorama is the world’s largest producer of polyester and PET resins as well as one of the fastest growing global petrochemical producers with a presence in 39 countries across 175 sites across Asia, Europe, Africa, and Americas. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Indorama Eleme Fertilizer & Chemicals Ltd Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Indorama Eleme Fertilizer & Chemicals Limited (“IFL”)
Mr. Rahul Moondra
Senior Manager - Finance
+2348129130097
infoprojectsii@indorama.com.ng
Indorama Complex, East West Expressway, Eleme, P.M.B. 5151, Port Harcourt, Rivers State, Nigeria
https://www.indoramafertilizers.com/

ACCESS TO INFORMATION

Unlike many other development finance institutions, DFC does not currently have an access to information policy.

Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia

ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)

The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.

You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability

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