Indorama Petrochemicals says it will invest $6bn into gas supply succeeded by previous investments of over $3billion which were beneficial to the economy and government, and also promoted job creation in Nigeria.
The Minister of State for Petroleum Resources, Chief Timipri Sylva, was recently at the Indorama-Nigeria Eleme plant for a tour and he praised the plan gas supply investment plan. His visit was to examine the company’s gas utilization goals which are creating value in different areas of the Nigerian economy.
The minister noted that the effective use of gas is the basis for expanding Nigeria’s economy. While hoping other parts of Nigeria can replicate, this is a practical representation that gas is capable of that.
Sylva gave credits to Indorama’s investment plan. He referred to it as a way that Nigeria’s abundant gas resources could be better utilized for a positive impact on the economy while driving diversification.
It is a good thing for Nigeria that Indorama utilizes gas in a true sense of value-addition. According to Sylva “this is a very welcome value addition to our economy, they are doing very well”.
Indorama which used to be the old Eleme Petrochemicals Company was an ailing plant in 2005 the minister said. But a lot has happened, they have added a lot of trains, and added fertilizer Urea plant and other facilities.
Indorama is partnering with the Nigerian government to supply Urea fertilizers to the government (Presidential Fertilizer Initiative). Sylva cited the current rice production capacity in Nigeria attributing the country’s self-sufficiency to Indorama’s support. Indorama also provides the raw material for other industries including polymer for plastic industries.