Daewoo Engineering has completed the construction of Indorama Fertilizer Plant No. 3 in Nigeria on schedule. This project follows the successful completion of Plants No. 1 and 2, reaffirming the company's strong track record in the local plant market.
The company announced on June 12 that it has finished the construction of the "Indorama Fertilizer Plant No. 3" near Port Harcourt in Rivers State, Nigeria.
This project was commissioned by IFFZE, the Nigerian subsidiary of the global petrochemical group Indorama. Daewoo Engineering established an ammonia production facility with a capacity of 2,300 tons per day and a urea fertilizer production facility with a capacity of 4,000 tons per day.
The contract value is approximately $265 million, with a construction period spanning 32 months from October 2023 to May 2026.
Daewoo Engineering also accelerated key production readiness stages. The introduction of natural gas occurred 14 days ahead of schedule, with ammonia production starting 16 days early and urea production beginning 19 days ahead of plan. Both the ammonia and urea plants achieved 100% operational capacity 13 days earlier than expected.
Plant No. 3 represents a continuation of Daewoo Engineering's fertilizer plant projects with Indorama. The company previously secured the contract for Indorama Fertilizer Plant No. 1 in 2012, completing it in March 2018, and subsequently won the contract for Plant No. 2 in the same year. The experience gained from the first two plants has facilitated the successful execution of Plant No. 3, demonstrating a pattern of repeat contracts rather than one-off projects.
The industrial significance of this project is notable. Plant No. 3 adds an additional production line near the existing Plants No. 1 and 2. According to related business data, the operation of Plant No. 3 is expected to increase Indorama's urea fertilizer production capacity from 2.8 million tons to 4.2 million tons annually. This enhancement of Nigeria's fertilizer production capabilities, based on natural gas, is also significant for local industrial infrastructure development.
Since entering Nigeria in 1983, Daewoo Engineering has completed approximately 75 projects worth around $10.8 billion. The company has established a strong local business foundation by participating in key national infrastructure projects, including the Indorama Fertilizer Plants No. 1 and 2, natural gas pre-treatment facilities, and urea fertilizer production facilities.
With the completion of Plant No. 3, Daewoo Engineering aims to continue its expansion in the African plant market, including Nigeria.
A company representative stated, "We successfully completed the project ahead of schedule based on the experience and local network we have built in Nigeria. We will actively pursue further projects and expand our presence in the African market, leveraging our trust-based relationships with clients."
* This article has been translated by AI.
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