Indorama Eleme Petrochemicals plans $3 billion expansion in Nigeria

Indorama Eleme Petrochemicals Limited (IEPL) has announced plans to invest $3 billion over the next five years to expand its petrochemical and fertilizer plants. The initiative aims to establish the company as Africa’s largest petrochemical and fertilizer hub.

During the 7th Mid/Downstream Oil and Gas Conference in Port Harcourt, IEPL Managing Director Manish Mundra noted that while Nigeria possesses Africa’s largest gas reserves and the second-largest oil reserves, the country still relies heavily on imports for plastics, fertilizers, and specialty chemicals. Mundra emphasized the need to convert hydrocarbon endowments into high-value industrial outputs through policy reforms, such as the Petroleum Industry Act 2021 and subsidy deregulation, to transition Nigeria from import dependence toward an export-oriented economy.