China's ECEC to build $2bln phosphate fertiliser project in Iraq
Chinese Engineering, Procurement and Construction (EPC) company East China Engineering Science and Technology Company (ECEC) will build a $2 billion phosphate fertiliser complex in the western desert region of Al-Qaim, Anbar province, according to local media reports.
Iraq's State Company for Phosphates and Asas Engineering Company will be working with ECEC on the facility, which is expected to produce 1 million tonnes of Diammonium Phosphate (DAP) and 500,000 tonnes of Triple Super Phosphate (TSP) annually.
A consortium of CNCEC and ECEC is building 1,800 metric tonnes per day sulphuric acid project and triple superphosphate (TSP) fertiliser plant in M'dhilla for Groupe Chimique Tunisien (GCT).
Iraq's phosphate reserves have been estimated at 10 billion tonnes.
(Writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
12 hours ago
- Arabian Post
Why I now seek strategic metal deal flow to hit 5X paydirt?
Matein Khalid The India-Pakistan war in May and the Iran-Iraq war that rages as I write only reinforces my conviction that wars will be won or lost via a access to the latest missile air defense, stealth fighter jet platforms, ballistic hypersonic missile, power projection capabilities and state of the art ISR (intelligence surveillance reconnaissance) defense technologies. A nation without these capabilities is akin to a Stone Age tribe whose only weapons are bows and arrows and whose existence can be terminated at any time by any foreign predator. This is the lesson Iran has learnt the hard way in the past week and could relearn with a vengeance next week once Trump decides if he wants the USG to keep its rendezvous with destiny at Fordo. Defense is only the icing on the cake in the exponential demand curve for key strategic metals that emanates from the robotics, data centers and EV industries worldwide. Critical minerals where demand vastly exceeds supply. This means the next generation of potential 5-20X deals exist in the netherworld of the global strategic metal markets, now that access to these critical metals has been weaponized by President Xi in China's Cold War with Washington. ADVERTISEMENT It is a sad fact of life that goldmines do not auto-mine bullion like a self-licking ice cream cone but must be nurtured, found, financed and developed by entrepreneurs who live and breathe the yellow metal. This fact is even more true for strategic metals where the world's smartest family offices I know have partnered with minors, whose skill set is invariably more CIA than CFA or God forbid, the poor CPA. I have often found that the destination is not as important as the journey and the journey is nowhere near as important as the travelling companion. I will cherish to my dying day the lovely memories of a trip across the chateau country of the Loire Valley and the alps maritime regions of France as a 19-year old via a second class ticket on the SNCF with my first French girlfriend. Viv la France pour toujours. My jungle guide in the critical metal jungle? Thus spake Zarathustra via Georgetown, McGill, Columbia SIPA and Mama Parsi School in my birth city by the Arabian sea. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Zawya
a day ago
- Zawya
FedEx suspends all pickups for shipments to Israel and Iraq
FedEx said on Friday all pickups for shipments destined to Israel and Iraq will be suspended. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Arun Koyyur)
Khaleej Times
a day ago
- Khaleej Times
Fintech major Qi andUS-based K2 Integrity join forces to align Iraq's financial sector with global standards
In a strategic move to strengthen financial compliance standards across its operations, Qi, also known as International Smart Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. Qi-K2 scope of work will be split into Qi UAE, Qi Jordan and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading not only Qi's internal controls but also developing a model for strengthening the integrity for the entire Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post war and the country has increased its multilateral integration with the international financial institutions, central banks, governments and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks: Evaluate and transform Qi's current financial crime compliance (FCC) framework. Train Qi's personnel across all levels - from frontline staff to executive leadership. Take operational responsibility for implementing globally benchmarked compliance practices. Transition the program into a sustainable, best-in-class model eventually managed by Qi. What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. The New York-based K2 Integrity brings decades of experience advising the US government, international institutions, and Fortune 500 banks. Its team includes former senior US Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, global head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' This initiative will position Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion.
