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Volume 3, Number 5              March 2 - 8, 2003            Quezon City, Philippines







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US firms given contracts to 'rebuild' Iraq

By The Hindu

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New York, Feb 23. (PTI): Though a war on Iraq is yet to start, the US has decided to give contracts to repair and rebuild the country exclusively to American companies in the 'post-war' era, a report said today.

The cost of the contracts is estimated to be around 900 million dollars, Time magazine said today.

The subcontracts would go exclusively to nations officially designated as friendly, the magazine added.

Much of oil infrastructure in Iraq is in a state of disrepair and would require extensive effort to make it work at the optimum capacity.

A recent report had said that the oil fields are littered with broken pumps.

The whole exercise could cost billions of dollars and earlier reports had said that the cost would be paid through Iraqi oil revenue, the report said.

Copyright 2003, The Hindu.

February 2003

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