IRC Egypt

pending

Indorama Corporation Pte. Ltd. (Indorama or the Group), a Singapore-based holding company, is a long standing strategic IFC client. Over the last three decades IFC and Indorama have partnered to enter high-risk markets, during which time Indorama has evolved into one of the world's fastest-growing fertilizer, petrochemical, and fiber companies. As part of its growth strategy, Indorama is expanding its footprint into the Middle East and North Africa through the development and construction of a greenfield phosphatic fertilizer complex in Ain Sokhna, Egypt.The proposed IFC investment is an up to US$174 million debt financing package to Indorama Misr Fertilizers SAE  (IRM) for developing a greenfield integrated phosphate-based fertilizer facility in Ain Sokhna, Egypt (the Project). The expected investment cost of the Project is US$520 million which will include a sulfuric acid plant (SAP), a phosphoric acid plant (PAP) and a granulation unit to produce di-ammonium phosphate (DAP) and mono-ammonium phosphate (MAP), NPK fertilizers and associated infrastructure. The Project is expected to produce 600,000 tonnes per annum of phosphate-based fertilizer.