Iraqi contracts handled with caution

More than 200 companies are expected to compete for up to USD 1 billion in contracts to repair Iraq’s oil infrastructure, but continued violence there has tempered some interest.
The US Army Corps of Engineers has invited bids for two long-awaited oil contracts for the north and the south of the country, both which were set at a minimum of USD 500,000 but could grow to as much as USD 500 million over time. US construction giants Bechtel Corp – already at work on a major rebuilding contract in Iraq – and Fluor Corp have said they would most likely compete for a piece of the work, and sources at the Army Corps say more than 200 other firms have expressed interest as well.




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