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Keyword: contrackintlinc

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  • U.S. Contractor Pulls Out of Reconstruction Effort in Iraq

    12/22/2004 2:12:31 AM PST · by RWR8189 · 26 replies · 1,446+ views
    Los Angeles Times ^ | December 22, 2004 | T. Christian Miller
    WASHINGTON — For the first time, a major U.S. contractor has dropped out of the multibillion-dollar effort to rebuild Iraq, raising new worries about the country's growing violence and its effect on reconstruction. Contrack International Inc., the leader of a partnership that won one of 12 major reconstruction contracts awarded this year, cited skyrocketing security costs in reaching a decision with the U.S. government last month to terminate work in Iraq. "We reached a point where our costs were getting to be prohibitive," said Karim Camel-Toueg, president of Arlington, Va.-based Contrack, which had won a $325-million award to rebuild Iraq's...