Agrium Capital signs MoU with Iraq Development Fund to build $200 million infant formula plant
Deal signed to build Iraq's first modern infant formula plant
Representatives of the Iraq Development Fund and Britain-based Agrium Capital during a ceremony held to sign a $200 million deal to build a baby formula plant in Iraq. Photo: INA
The Iraq Development Fund has signed a Memorandum of Understanding with Agrium Capital to establish Iraq's first modern infant formula production facility, with planned capital expenditure exceeding $200 million.
The plant will use locally sourced ingredients, including Iraqi milk, and is expected to have production capacity of 25,000 tonnes a year, enough to meet 80 to 85% of domestic market demand. The project is designed to reduce Iraq's reliance on imported infant formula while improving quality oversight of products reaching Iraqi families.
Speaking to Iraq's state-run news agency, Agrium Capital CEO Rod Bassett said the company operates globally with around 3,000 employees and is now focused on food security and renewable energy. He pointed to Iraq's strategic importance to the business and noted Agrium Capital's 15-year presence in the Iraqi market.
The infant formula plant is the first in a series of planned Agrium Capital investments in Iraq's industrial sector.
Sources:
Iraq Business News: https://www.iraq-businessnews.com/2025/06/03/uks-agrium-capital-to-build-infant-formula-plant-in-iraq/
AGBI: https://www.agbi.com/manufacturing/2025/06/uk-company-to-build-200m-infant-formula-factory-in-iraq/
Iraqi News: https://www.iraqinews.com/iraq/iraq-signs-200-million-deal-with-british-firm-to-build-baby-formula-plant/