Nagarjuna Fertilizer signs MoU with Nigerian government for fertiliser plants

Nagarjuna Fertilizers and Chemicals Limited has signed a memorandum of understanding with the Nigerian government for construction of petrochemical-based fertiliser plants in that country.

Hyderabad-based NFCL, along with US oil major Chevron Nigeria Limited will construct five fertiliser blending factories in the different geopolitical zones of the country, as per the MoU.

The fertiliser initiative is expected to involve investments to the tune of $2.5 billion.

Nigeria, which wants to end gas flaring, has projected the creation of 500,000 jobs through an investment of $25 billion in the process.

Oando Nigeria Plc and Italian oil giant Nigerian Agip Oil Company will jointly build a $3 billion central gas processing facility (CPF) in the country.

Nigeria has also signed an agreement with Saudi Arabian firm Xenel for construction of a world-scale petrochemical plant in the Koko Free Trade Zone (FTZ), Warri Delta State, with a capacity of about 1.3 million tonnes per annum.