Indorama Eleme Petrochemicals Limited- Efficiency project (IFC-44761)

Countries
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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."
Voting Date
May 10, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
INDORAMA ELEME PETROCHEMICALS LIMITED
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.
Loan Amount (USD)
$ 9.00 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)
$ 64.00 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.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS May 21, 2021

Disclosed by Bank Mar 19, 2021

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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.

Indorama Eleme Petrochemicals Limited (IEPL) is an integrated petrochemical company with a liquids cracker and downstream polyethylene (PE) and polypropylene (PP) production, located in Port Harcourt Nigeria. The proposed investment is a concessional senior loan from IFC as implementing entity of the IDA PSW Blended Finance Facility (BFF) to IEPL, to finance the debottlenecking (DBN) of its olefins and polyolefins plant, including installation of a new furnace that will expand production capacity, and two Heat Recovery Steam Generators (HRSG) to recover energy and improve steam reliability, with significant efficiency upgrades that will reduce gas consumption, increase energy efficiency and reduce CO2 emissions, at the existing Eleme Petrochemicals site in Port-Harcourt, Nigeria.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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Indorama Eleme Petrochemicals Limited
Rahul Moondra
Deputy General Manager
+234 805 834 0482

 

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