By John Lee.
Iraq's Prime Minister, Mohammed Shia' Al-Sudani, emphasized the importance of private sector partnerships to reduce reliance on imports and meet domestic industrial needs.
On Thursday, Al-Sudani oversaw the signing of three industrial contracts with private companies to boost production in the fertilizer and chemical sectors:
- A 1 million ton/year urea fertilizer plant in Basra;
- the rehabilitation of the Baiji fertilizer plant in Salah al-Din with a 672,000 ton/year capacity; and,
- the expansion of a soda and chlorine factory in Babylon.
The government plans to support these ventures by providing subsidized gas and ensuring the timely completion of the projects.
Al-Sudani reaffirmed that the government is not planning to privatize state-owned companies, but instead aims for productive partnerships with the private sector to create added value and export surplus goods.
(Source: PMO)
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