Iraqi Prime Minister Mohamed Shia' al-Sudani announced today, Wednesday, that the country has reached self-sufficiency in securing what the agricultural plan needs in terms of fertilizers. He emphasized the need to transition from a country dependent on oil revenues to a diversified economy.
The Prime Minister's Media Office stated that al-Sudani inaugurated the continuous casting plant, phase one, at the General Company for Steel Industries in the Taji area, north of Baghdad, after its rehabilitation, modernization, and operation, with a production capacity of up to 600,000 tons annually.
It added that the casting plant specializes in melting and casting scrap metal and converting it into steel billets as a ready-to-roll primary product, utilizing iron scrap, and features state-of-the-art melting furnaces and massive casting machinery from the latest global manufacturers. This project will help meet the country's demand for various iron products, create job opportunities, and generate financial inputs for the General Company for Steel Industries as a share of the revenues.
Furthermore, the ceremony included the signing of a partnership contract to establish a compound fertilizer production project in Baiji, Salah al-Din governorate, with the Emirati company ARJ Holding LLC, aiming for a production capacity of 249,000 tons per year of various types of compound phosphate fertilizers. This will contribute to supporting the agricultural sector and meeting local fertilizer needs, in addition to providing jobs.
During the inauguration ceremony, the Prime Minister celebrated the working class in Iraq on the occasion of Labor Day, noting the state's commitment to safeguarding workers' economic and social rights. He stressed that the working class has been part of the construction process at various levels in all sectors—private, governmental, and mixed—and highlighted the significant progress made in ensuring workers' rights through legislation, notably the Labor Law and the Social Security and Retirement Law for Workers, which was voted on in 2023.
He mentioned that the Social Security Law represents a qualitative leap in guaranteeing rights according to the standards of the International Labor Organization and the Arab Labor Organization.
He pointed out that industry is a goal in economic reform based on various factors, stating that Iraq is an industrial country just as it is an oil and agricultural country. He clarified that Iraq possesses all the industrial components, from raw materials to infrastructure for the industrial base, significantly contributed to by the state.
He noted, "We have a market that needs all products, goods, and services," further indicating that the government is committed to supporting the industrial sector, and the significant investment opportunities announced by the Ministry of Industry are bearing fruit today.
He affirmed, "We previously opened the rolling mill at the General Company for Iron and Steel after being dormant since 2003, and we are preparing to inaugurate the steel plant after completing its rehabilitation at the same company," also confirming the opening of the DAP fertilizer line, which meets the agricultural needs in Iraq, as well as the urea fertilizer line.
He highlighted that they have reached a stage of self-sufficiency in providing what the official agricultural plan requires in fertilizers, explaining that they are heading towards the production of compound fertilizers, which will fulfill farmers’ and cultivators' fertilizer needs under current contracts.
He outlined several measures that contributed to the start of local pharmaceutical industry development after reviewing with producers in the private sector, asserting that "we described this year as the year of achievements, and we have realized it in action through the opening of several projects."
He stated, "A considerable number of projects have returned to operation after being inactive for years due to poor management, neglect, or failure to make decisions on important projects," noting that "we have no choice but to support industry, agriculture, trade, and tourism to transition from a country that relies on oil revenues to a diversified economy."
He concluded by saying that "International financial institutions' readings of the high growth indicators in Iraq are a testament to the government's correct path in pursuing this policy," emphasizing that "without a robust private sector, both financially and technically, we will not be able to achieve the tasks as planned."
