Main Focus

Akashat Phosphate Fertilizer Project

We are going to invest 2 billion USD in Iraq, which is our most important market.

Finesta Group intends to invest in the rehabilitation, expansion, construction, and operation of a world-class phosphate mine and fertilizer manufacturing investment project in lraq. This project offers legitimate benefits for lraq including capital investment, technology transfer, human resources development, and economic diversity.

The industrial complex is in western lraq near the Euphrates riverbank, close by the Syrian borders and a few kilometers away from the seventh biggest Gas field in the world „Akkaz“. The project is connected with the national railway network and the national highways. The mine is located 160 kilometers from the industrial complex, and the type of mine is an open pit. The project production will include all kinds of phosphorus and nitrogenous fertilizers by taking advantage of the following:

  • The exploitation of the vast reserves of phosphate mines discovered in western lraq.

  • The Demand of the agricultural sector for fertilizers to achieve the optimum utilization of agricultural land.

  • The discovery of a new gas field“ Akkaz“ to produce Ammonia salt.

  • The project will aid lraq’s economy in the following:

    • Supporting the national economy and achieving foreign currency savings through the policy of replacing imports with local production.

    • Waking up part of the unemployment in the labor force in lraq.

    • The project productions will cover the national consumption of fertilizers, and part of the surrounding countries and international demands.

 
Phosphate and Nitrogen fertilizer are strate­gie commodities for the domestic and foreign markets because of their direct relationship to agriculture and food supply to millions of people. To be clear about the supply and demand of fertilizers in a domestic and foreign market, the world of agriculture, population growth, and the challenges of addressing the food crisis which began more than two decades ago and has been covered by the current finan­cial crisis. One of the main causes of the food crisis is climate change and drought, focusing on biofuel production and the lack of cultivable arable areas compared to the increase in the world population. The increase in the number of people on one hand and the difficulty of adding new areas in arable land on the other hand stimulated farmers to exploit the land intensively to meet the increasing demand for food.

. Most of the increase in agricultural production until the begging of the twenti­eth century was due to the horizontal expansion of the agriculture by reclama­tion and cultivation of new soil until this soil becomes limited, which led to the search for another way to increase the production of a limited area of agriculture soil using modern scientific methods in agriculture has been successful green revolution between 1960 to 1995 in doubling food production three times due to the instruc­tion of modern technology packages such as, fertilizer, pesticides, breeding of new varieties and modern irrigation system which made it possible to increase the production of food largely and sufficiently.

For more than eight thousand years, Meso­potamia humans know agriculture to produce food at Tigris and Euphrates banks. Throughout that long time, the land has consumed all its fertility components. Whereas its agriculture was depending on organic fertilizer to increase soil fertility. Yet, the increase in population increases demands on food necessities production chemical fertilizers. As the lraqi land 200-250 kg per hectare while the available fertilizer per hectares now does not exceed 80 kg.
The cultivated land, for the time being, do not exceed 6 million hectares of 12 million hectares Arable land in lraq. lf the increase the cultivated occurs, the need for Nitrogenous fertilizer should be doubled. For these reasons, Finesta Group as an investor and developer of the ( SCP) State Company of Phosphate is planning to construct a factory producing all Types of Phosphorous – Nitrogenous fertilizers including
Ammonia and Urea in the industrial complex in Al Qaim to respond the increas­ing demand locally and internationally. There is a gas pipeline from Kirkuk to the complex ( Phosphate project ) with a capacity of 150 m3/day as Akkaz Gas field in AI-Qaim is not more than 30 KM away from the industrial complex . The lraqi government will develop within the coming few years. 
The development of this field will ensure to construct the Ammonia -Urea production line and supplied the Ammonia to the industrial complex to complete the production cycle. 

The number of hungry people in the world rose from 842 Million in 1990to 963 Million in 2008 nearly 75% of the world hungry and poor live people in the rural area depend on agriculture for their live hood. The solution to reducing the num­bers of poor and hungry people and protesting the standards of living of the majority of the world population is based on accelerating agriculture growth until 2050 to meet the needs of an incasing number of the world population is accepted to reach 9.2 Billion. lťs thinkable that the world will succeed in meeting this challenge and securing the food needs of the growing popula-
tion without the prudent use of input, especially fertilizer. Nearly 50% percent of the increase in agriculture in production for the past decades 
has been achieved because of this use of chemical fertilizer, and these fertilizers will remain the main and key to the future development and 
growth of agriculture output to achieve security and reduce fami ne and 
poverty. 

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