Iraq provides investors with a damaged fertilizer factory

An Iraqi fertiliser factory that was disabled for nearly four decades by the 1980–1988 conflict with neighboring Iran has opened up for investment proposals.

During a Thursday visit to the factory in the southern port of Basra, Industry and Minerals Minister Khalid Al-Najm disclosed that the Ministry had already received an offer from an anonymous investor for the renovation of the facility.

According to Aliqtisad News network, Abi Al-Khaseeb factory stopped operating 43 years ago after the conflict severely damaged about 80% of the facility.

Al-Najm was cited as stating in a report on Friday that the offer to restore the facility will last for 30 days after which the Ministry would choose the winning proposal.

The Minister said that a tiny port in Basra serves the factory, which could be rebuilt in three years but omitted to specify its pre-war productivity.