Eleme Petrochemical targets investment outlay of US$4.4 bln by 2019 to propel to No.1 petrochemical company

13-May-14

Indorama Eleme Petrochemical Ltd. (IEPL), plans to invest US$4.4 bln by 2019 to become the largest petrochemical company in Africa, as per Dailytimes.com.ng. The company had so far injected US$575 mln since its privatisation and paid N33.9 bln as dividend to the Federal Government and Rivers Government since its acquisition in 2006. As part of efforts to diversify, the company would embark on the construction of mega-sized fertiliser project comprising 1.4 million MTPA nitrogenous fertiliser, a gas pipeline and jetty projects targeted to be completed in 2015.