Baghdad (IraqiNews.com) – In an estimated $3 billion project, Iraq will reopen its call for bids from domestic and foreign businesses to construct a phosphate plant in the western part of the country.
In a statement to reporters, the Iraqi Minister of Industry and Minerals, Khalid Battal Al-Najm, said that the goal of the re-announcement is to receive the most competitive offers, Bloomberg reported.
Al-Najm withheld information on the plant’s anticipated output capacity.
The Iraqi Minister of Industry and Minerals clarified that Iraq is attempting to extend the offer to further bidders after deeming the offers received from five different companies from the previous year to be too low.
Al-Najm explained that the call for bids will be made public in less than two months.
Based on statistics published on its website, the Iraq Geological Survey claims to have the second-largest phosphate reserves in the world.
The Iraq Geological Survey states that nine percent of the world’s phosphate reserves are located in Iraq’s western desert. Fertilizers, phosphoric acid, and other phosphate products are made from phosphate
Source: Iraqi News, 19 February 2024
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