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/


African Fusion

AfricanFusionAfrican Fusion, the official publication of the Southern African Institute of Welding (SAIW), aims to provide up-to-date insight into welding technology and the welding industry.

Capital Equipment News

Capital Equipment News is dedicated to the application of equipment and modes of transport that are used in the mining, construction, quarrying, and transport industries.

Construction World

ConstructionWorldConstruction World was first published in 1982 and has grown to become a leader in its field, offering a unique mix of editorial coverage to satisfy the diverse needs of its readers.

Electricity + Control

ElectricityandControlE + C publishes innovative, technical articles that provide solutions to engineering challenges in measurement, automation, control, and energy management.

Lighting in Design

LightingandDesignLighting in Design is a glossy, upmarket publication aimed at lighting professionals. It is the only B2B magazine in SA that is dedicated solely to the subject of lighting.

MechChem Africa

MechChemJanuary2017cover MechChem Africa supports African engineering and technical managers across the full spectrum of chemical and mechanical disciplines.

Modern Mining

ModernMiningEstablished in 2005, Modern Mining is one of SA's leading monthly mining magazines, noted for the quality and accuracy of its writing and the breadth of its coverage.

Modern Quarrying

ModernQuarryingModern Quarrying is firmly entrenched as a leading industry-specific magazine. It focuses on promoting the science and practice of quarrying and processing in southern Africa.

Sparks Electrical News

SparksElectricalNewsReadable and informative, Sparks Electrical News is the newspaper for those involved in installing and maintaining electrical supplies and equipment.