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The Private Infrastructure Development Group (PIDG), which encourages and mobilises private investment in infrastructure in sub-Saharan Africa, south and south-east Asia, to help promote economic development and combat poverty, introduced the Emerging Africa Infrastructure Fund (EAIF) in order to further those goals.

New Nigeria project for Emerging Africa Infrastructure FundProviding a variety of debt products to infrastructure projects promoted mainly by private sector businesses in sub-Saharan Africa, EAIF is funded by the governments of the United Kingdom, The Netherlands, Switzerland, and Sweden.

To date, EAIF has supported nearly 70 infrastructure projects across eight sectors in 21 sub-Saharan African countries. Its latest investment is a $1.1 billion project to double production at Nigeria’s largest fertiliser plant, with EAIF providing a $35 million loan to Indorama Eleme Fertilizer & Chemicals Ltd (IEFCL).

This is part of the financing of the expansion of the company’s existing fertiliser plant at Port Harcourt, Nigeria. The new plant is to be built alongside the existing facility, doubling the company’s output annually to 2.8 million metric tonnes.

EAIF previously provided loans of US$48.8 million towards construction of IEFCL’s first Port Harcourt fertiliser plant, which is now operating at full capacity. The new plant will share the existing infrastructure that supplies energy, water and port facilities. The infrastructure at the adjacent port of Onne is to be expanded to meet the needs of the enlarged fertiliser plant. An additional 11km of new gas pipeline that serves the IEFCL facility has already been added to the 84km installed when the present plant was constructed.

The project directly supports the Nigerian government’s initiative to eliminate the importation of urea and to meet rising local demand for urea fertiliser. 3,830 people are to be hired to build the new plant. 608 people will have permanent jobs when it comes on stream.  Construction is expected to take up to 37 months.

Last year, the Fund provided loans to a number of African projects. In Madagascar, EAIF made its first loan in the airport infrastructure sector when it provided €25-million to Ravinala Airports to upgrade and expand two airports. In Mali, EAIF supported the first two Independent Power Producers (IPPs) in the country and the projects are earmarked to bring new jobs in construction and operation, and help stimulate the employment market. 

Other EAIF projects in 2017 included the refinancing of the Bugoye hydro electricity plant in Uganda, the expansion of the Tobene ll power station in Senegal, and another renewable energy  project in Mozambique.

Overall, EAIF provided finance to independent power producers that will bring 90 MW of new solar power to Africa. The Fund financed 374 MW of power across solar, hydro and fossil fuel in 2017 alone. EAIF also led the debt financing for the $60.8-million water treatment facility for Kigali, Rwanda, to be owned, built and managed by Kigali Water Limited.

Read morehttp://www.indorama.com/affiliated-companies/indorama-eleme-fertilizer-and-chemicals-limited

Image credit: https://www.eaif.com/eaif-lends-us35-million-to-us1-1-billion-project-to-double-production-at-nigerias-largest-fertiliser-plant/

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