Reuters reports that a Japanese consortium is planning to build and operate a $2 billion fertilizer plant in Basra.
Citing an article from Japanese business daily The Nikkei, they say the Japan International Cooperation Agency (JICA) will provide up to 150 million yen ($2 million) to Mitsui, Toyo Engineering Corp and Tokyo-based consulting firm Unico International Corp for feasibility studies. A local state-run company will also be involved.
The project will mark Japan's first-ever public-private partnership for infrastructure development in Iraq.
The plant would produce ammonia and urea from natural gas. Daily output capacity at the plant would be 2,000 to 3,000 tons of ammonia, putting the plant among the largest in the world.