The Singapore-based Indorama Group has reportedly purchased the 15% of Indorama Eleme Fertilizer and Chemicals Ltd. (IEFCL) that it did not already own, according to a Jan. 19 report by African Business, which valued IEFCL at US$3.3 billion.
The seller was reported to be UK-based Actis Capital. IEFCL’s 1.4 million mt/y urea plant is in Port Harcourt, Nigeria (GM March 25, 2016). Indorama and Actis had not responded to inquiries by press time.