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Abraaj buys stake in Indorama Fertilizers

Abraaj Group has upped its agriculture investment in Africa, grabbing a stake in Indorama Fertilizers ahead of an expected rebound in the market. The Dubai buyout firm acquired a minority stake in one of sub-Saharan Africa’s largest fertilizer companies from Indorama Holdings Netherlands to expand Indorama’s product globally. The amount of the investment was not disclosed. Indorama has a manufacturing facility easily accessible for exports in Port Harcourt, Nig­eria. It processes 1.4 million tonnes per year of urea fertilizer – a chemical compound that is most widely used in the industry because of its versatility towards plants and land types. The fertilizer maker wants to serve neighbours in West Africa as well as the Americas and Europe. Abraaj has $3 billion in assets in the continent spanning a variety of sectors, and last year the company raised $2.3 billion for its Africa-focused funds.


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