By John Lee.
The Ministry of Industry and Minerals has announced an agreement with a Japanese Company to build a new plant for nitrogenous fertilizers in Basra province.
A statement from the Ministry said:
"The MoI represented by the Petrochemical Industries and Fertilizers Commission concluded a non-binding goodwill letter and Confidentiality Agreement with the Japanese company Mitsui to build a new fertilizers factory in the Khor al-Zubair district of Basra.
"Production capacity will exceed one million tons per year of urea fertilizers and 200,000 tons of additional ammonia for export."
"This agreement is a step towards increasing participation of Japanese companies in investment opportunities in Iraq."