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Posted on 10/12/2004 11:38:57 PM PDT by NotJustAnotherPrettyFace
EAST PEORIA - An Iraqi minister has encouraged Caterpillar Inc. to establish a base of operations in the Middle Eastern country.
"Iraq has been in a state of disrepair for 40 years. There's a lot of work to be done, and Caterpillar could play a role in that redevelopment," said Iraqi Minister of Transportation Behnam Polis, who spoke Monday at the Par-A-Dice Hotel, site of the International Construction Innovations Conference, sponsored by Bradley University.
"We are looking to partner with the best companies in the world. Caterpillar has roots in Iraq that go back to the 1950s. I would like to make the suggestion that (Caterpillar) should have an office in Iraq," said Polis through an interpreter.
Doug Oberhelman, Caterpillar group president, acknowledged the company's interest in assisting rebuilding efforts in Iraq. "We think it's a huge market that's been neglected," he said.
Caterpillar serves the region from six distribution locations throughout the Middle East, said Oberhelman. "Iraq is (currently) covered by our office in Kuwait," he said.
Oberhelman noted, however, that most of the company's equipment has been supplied through the U.S. Armed Forces. "It's difficult (to do business) with the dangers involved. We're optimistic that a good business model can be established as stabilization occurs," he said.
Iraq's infrastructure must be totally rebuilt, said Polis, an engineer for the Iraqi government for the past 32 years.
Oil revenue will drive the reconstruction, he said. Iraq expects to receive $20 billion from oil exports this year but is counting on expanded production in the future, said Polis.
"Right now we're producing 2.5 million barrels of oil a day," he said, but noted that is down from pre-Gulf War levels, prior to 1990, when Iraq produced 4.5 million barrels of oil a day.
"We would like to exceed 8 million barrels of oil a day by 2010," he said. "People think that Saudi Arabia has the largest oil reserves in the world. They have the largest production. Iraq has the largest oil reserves in the world," said Polis.
Americans should not be misled by the turmoil of a country in transition, he said. "Ninety-eight percent of the Iraqi people love Americans and want to work with Americans," said Polis.
Also speaking at the conference was Rosemarie Andolino, who directs the $6.4 billion modernization program at O'Hare Airport. "We expect to move 29.2 million cubic yards of dirt by next year," she said, drawing an appreciative nod from Oberhelman.
Amir Al-Khafaji, chairman of Bradley University's civil engineering and construction department and the conference organizer, noted the meeting's international flavor, pointing out representatives from Pakistan, Egypt, England and Canada as well as Iraq.
"This is the first conference involving experts from industry and construction, politicians and scholars. We look forward to breaking barriers between countries," he said.
Bradley President David Broski applauded Al-Khafaji's organization. "He did most of the heavy lifting - even translating - at the conference," Broski said. "It was a nice chance for us to take the bushel basket off our light and get the university some visibility. If we can stabilize that part of the world, Bradley may have an advantage."
Also attending the conference was State Rep. George Shadid, D-Peoria. "I think it's important that we get the real story of what's going on in Iraq. Forget the politics. You've got someone here who talks about what the Iraqi people want," he said of Polis.
Iraq is already trying to be pro-business
This is great news, isn't it? My best to your brother! I grew up in central Illinois and have lots of friends working for Cat, both in management and in the plants.
Woo hoo! Sounds like business is picking up in Iraq...
And along with that a true report about how Iraqis feel about Americans. :-)
I wonder where Polis got that 98% figure?! THAT would be something worth publishing - linking - by somebody like Drudge.
I have no idea
Great story to pass along to the White House, yes?!
Anytime an American company does good, it's good news...
Yes, I think so.
Great! I make filters for CAT, more work for me.
Excellent! It's the American way!!! :-)
Illinois business PING for some great news! (Buy Caterpillar stock! ;-)
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Great news! Cat's a good company.
Most of my family worked for Caterpillar.
94.36% of all statistics are made up on the spot.
I guess the Iraqi government is OK with outsourcing.8^)
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