British business has profited by at least £1.1 billion ($2.95 billion) since Saddam Hussein was toppled three years ago, the first comprehensive investigation of UK corporate investment in Iraq has found.
The company roll-call includes some of the best known names in Britain’s boardrooms and many who would prefer to remain anonymous. They come from private security services, banks, PR consultancies, urban planning consortiums, oil companies, architect offices and energy advisory bodies.
Among the top earners is a construction firm, which has made an estimated $872.5 million (£500 million) from a series of contracts restoring electrical systems and maintaining power generation in Iraq over the last two years.
Evidence of massive investments and the promise of more multi-million-pound dollar to come are uncovered in a joint investigation by Corporate Watch, an independent watchdog and the Independent. .
A total of 61 British companies are identified as benefiting from contracts and investment in the new Iraq. Corporate Watch believes it could be as much as five times the £1.1 billion ($2.95 billion) figure, because many firms prefer to keep their relationship secret.
Source: The Independent
|
