Iraq has invited bids from investors to rebuild a fertiliser plant that has been crippled by the 1980-1988 war with nearby Iran for nearly four decades.

Industry and Minerals Minister Khalid Al-Najm announced during a visit to the plant in the Southern port of Basra on Thursday that the Ministry has already received an offer from an unnamed investor for the reconstruction of the facility.

Abi Al-Khaseeb plant halted operations 43 years ago after nearly 80 percent of the facility sustained severe damage because of the war, according to Aliqtisad News network.

In a report on Friday, it quoted Al-Najm as saying the offer to rebuild the factory would continue for 30 days after which the Ministry would select the winning bid.

The Minister did not mention the plant’s pre-war production but added that it is served by a small port in Basra and could be reconstructed within three years.

(Writing by Nadim Kawach; Editing by Anoop Menon)