PIO drives fert projects in Nigeria |
After making his name in India, Manish Mundra, the founder of Drishyam Films, is in the news in Nigeria for contributing to its economic growth in several ways: From petrochemicals to fertilisers. Indorama Corporation, the conglomerate Mundra heads in Nigeria, aims to boost the agriculture sector in the West African nation with the opening of a $1.5 billion project to produce 1.5 million metric tonnes of urea fertiliser per annum so as to make the country self-sufficient in the product.Mundra joined Indorama Group in 2002 in the corporate strategy department. He figured that Africa would see a growth in business and demand. Nigeria was the perfect choice. He saw that Nigeria needed a breakthrough in food production. It needs to stop its huge food imports which gulp about $5 billion annually," Mundra said, adding that "Nigeria has abundant land resources; so there is no justification for this high import cost. "He said about 75 per cent of Nigeria`s land can support agriculture, but only 49 per cent is in use. His vision remains to build the largest petrochemicals and fertiliser hub in West Africa by 2020 with a total investment of $4.2 billion.
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