Qatar Fertiliser Company (S.A.Q) was founded in 1969 as a joint venture between the Government of Qatar and Norsk Hydro Norway, Davy Power and Hambros Bank, to produce ammonia and urea. The country’s first large-scale venture in the petrochemical sector, QAFCO was established with a view to diversify the economy and utilize the nation’s enormous gas reserves. After successfully implementing several expansion projects over the past three decades, the Company has evolved into a world-class fertiliser producer. QAFCO is now owned 75% by Industries Qatar (IQ) and 25% by Yara Netherland.