AfDB Approves $100m Loan for Nigeria's Indorama Eleme

The African Development Bank has approved a $100 million loan for Nigeria’s Indorama Eleme Fertilizer & Chemicals aimed at helping it boost fertilizer production, the bank said in a statement on Thursday, according to Reuters.

The company, a unit of Singapore-based petrochemical producer Indorama, is seeking to double annual output of urea fertiliser from 1.4 million tonnes to 2.8 million tonnes, the statement said.