QAFCO was foundes in 1969 as a joint venture the state of Qatar, Norsk Hydro
Norway, Davy Power gas, and Hambros Bank, to produce Ammonia & Urea by utilizing
Qatar's abundant gas resources. The company is now owned by Industries Qatar (IQ) as 75%
shareholder and Yara Internatioal as 25% shareholder.
QAFCO's inception in 1969 as a joint venture company to produce chemical fertiliers was the first
and a significant step in Qatar's industrial diversification program to utilize its abundant natural gas resources