Engee Plant

pending

Engee PET Manufacturing Company Nigeria Limited (“Engee” or the “company”) is a subsidiary of the JOTNA Group (“Jotna” or the “sponsor”), a mid-sized conglomerate in Nigeria with main subsidiaries in plastics, beverages, and trading. Engee was set up in 2014 in Igbesa Village, Ogun state, Nigeria (about 60 km from Lagos:  https://goo.gl/maps/uhvSvwJk8nSrK8if6) to manufacture food-grade Polyethylene Terephthalate (PET) resins used to make plastic bottles and is currently Nigeria’s second biggest PET resins plant, thanks to the fast-growing demand for plastic bottles in the country and west Africa. The current plant, commissioned in 2017, consists of an SSP (Solid State Polymerization) unit with a production capacity of 150,000 tonnes per annum (tpa), where imported amorphous PET is processed and converted to bottle grade PET that can be used by bottle manufacturers.  Following completion of the SSP unit, Engee plans to commence backward integration of its operations by manufacturing the main raw material (amorphous PET) in-house. The proposed expansion (the “project”) will involve setting up a Continuous Polymerization (CP) unit and will enable Engee to manufacture amorphous PET from two imported raw materials (viz., purified terephthalic acid (PTA) and mono-ethylene glycol (MEG). Engee is also incorporating design features in their project to accommodate the use of recycled plastics in the production process. IFC intends to invest up to US$39m to facilitate this project, which will not increase the current production capacity of Engee, but will focus on improving cost efficiency of the process