South Korean Company Secures ₦350 Billion Fertiliser Plant Contract in Port Harcourt

News in Brief:

— South Korea's Daewoo Engineering & Construction has secured a ₦350 billion contract to build a fourth fertiliser production line for Indorama in Port Harcourt.

— The proposed facilities are designed to produce 2,300 tonnes of ammonia and 4,000 tonnes each of urea and urea granules daily.

South Korean construction firm Daewoo Engineering & Construction (Daewoo E&C) has secured a ₦350 billion contract to build a fourth fertiliser production line for Indorama in Port Harcourt, Rivers State. The company said it received a letter of award from IF FZE, Indorama’s Nigerian subsidiary, to execute the project, valued at 350 billion won.

Under the contract, Daewoo E&C will serve as the prime contractor for facilities designed to produce 2,300 tonnes of ammonia, 4,000 tonnes of urea and 4,000 tonnes of urea granules daily.

Expansion Builds on Existing Partnership

The project extends Daewoo E&C’s relationship with Indorama, as they previously delivered the group’s first three fertiliser production lines in Nigeria, alongside supporting facilities for feedstock processing and power generation. 

The company completed the third production line on May 30, ahead of key scheduled milestones. It attributed the latest award partly to its delivery record and longstanding partnership with Indorama.

Daewoo E&C entered Nigeria in 1983 and has completed 75 projects in the country, with a combined value of $10.8bn. Its wider African operations cover about 290 projects across 11 countries, including Libya, Mozambique, Côte d’Ivoire, Zambia and Botswana.

The company is also pursuing opportunities in other markets. It has been named preferred bidder for a liquefied natural gas project in Mozambique and a gas processing plant in Papua New Guinea, although final contracts have not been signed.

A Daewoo E&C official said the award reflected the company’s technical expertise and project management capabilities, adding that it would use its experience and local partnerships to pursue further international contracts.