Notore Chemical gets nod to list N100.75b shares

 

The River State based Notore Chemical Industries is in talks with Mitsubishi Corporation of Japan and other international investors for the construction of a new plant at its facility in Onne.

The proposed new plant will add a second train to Notore’s existing plant, thereby tripling capacity from the facility

The target of the company is to meet its goal of becoming a net exporter of fertilizers to other countries in Africa and beyond.

Notore’s group managing director, Mr. Onajite Okoloko, confirming the expansion plan, says that preliminary studies have started for the construction of the second train which will be done at the company’s certified “brownfield site”.

According to him, discussions are progressing with Mitsubishi and other investors while preliminary studies have started for train 2 which will co-produce 1,000,000 metric tonnes of fertilizer per annum and half a million metric tonnes of methanol annually at Notore’s certified brownfield site.

Okoloko explained that Notore’s gas supply agreement with Eroton Exploration and Production Company limited, an indigenous oil and gas producer, has given it the confidence to proceed with the second train.

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