QAFCO was founded in 1969 as a joint venture between the Government of Qatar and a number of foreign shareholders. 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 reserve. 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.
With a sizable annual production capacity of 3.8 million MT of ammonia and 5.6 million MT of urea from, QAFCO is now the world's largest single-site producer of ammonia & urea and thereby made Qatar the world's fourth largest urea producer. This enabled Qatar to be a key player in the global fertilizer market and the largest exporter of urea in the world with about 15% share of the world urea supply.