Deal: 1.4 mln metric tons

This is the current annual production capacity of Nigeria-based Indorama Fertilizers, the largest urea fertilizer maker in Sub-Saharan Africa, in which Dubai-based private equity investor Abraaj acquired a minority stake in for an undisclosed amount

The stake was purchased from Indorama Holdings Netherlands, a wholly owned subsidiary of Indorama Corporation, a petrochemical group.

Besides Nigeria, Abraaj said the plant would serve neighbouring West African countries and markets in North America, South America and Europe.

Abraaj’s head of global private equity, Mustafa Abdel-Wadood, described Indorama as “a very efficient producer” and said it was resilient to the difficulties Nigeria’s oil-dependent economy is currently going through.

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