The War Dividend: The British companies making a fortune out of conflict-riven Iraq
By Robert Verkaik
Published: 13 March 2006
British businesses have profited by at least £1.1bn since coalition forces toppled Saddam Hussein three years ago, the first comprehensive investigation into UK corporate investment in Iraq has found.
The company roll-call of post-war profiteers includes some of the best known names in Britain's boardrooms as well many who would prefer to remain anonymous. They come from private security services, banks, PR consultancies, urban planning consortiums, oil companies, architects offices and energy advisory bodies.
Among the top earners is the construction firm Amec, which has made an estimated £500m from a series of contracts restoring electrical systems and maintaining power generation facilities during the past two years. Aegis, which provides private security has earned more than £246m from a three-year contract with the Pentagon to co-ordinate military and security companies in Iraq. Erinys, which specialises in the same area, has made more than £86m, a substantial portion from the protection of oilfields.
The evidence of massive investments and the promise of more multimillion-pound profits to come was discovered in a joint investigation by Corporate Watch, an independent watchdog, and The Independent.
The findings show how much is stake if Britain were to withdraw military protection from Iraq. British company involvement at the top of Iraq's new political and economic structures means Iraq will be forced to rely on British business for many years to come.
A total of 61 British companies are identified as benefiting from at least £1.1bn of contracts and investment in the new Iraq. But that figure is just the tip of the iceberg; Corporate Watch believes it could be as much as five times higher, because many companies prefer to keep their relationship secret
The waters are further muddied by the Government's refusal to release the names of companies it has helped to win contracts in Iraq. >>>cont
Link Here
Published: 13 March 2006
British businesses have profited by at least £1.1bn since coalition forces toppled Saddam Hussein three years ago, the first comprehensive investigation into UK corporate investment in Iraq has found.
The company roll-call of post-war profiteers includes some of the best known names in Britain's boardrooms as well many who would prefer to remain anonymous. They come from private security services, banks, PR consultancies, urban planning consortiums, oil companies, architects offices and energy advisory bodies.
Among the top earners is the construction firm Amec, which has made an estimated £500m from a series of contracts restoring electrical systems and maintaining power generation facilities during the past two years. Aegis, which provides private security has earned more than £246m from a three-year contract with the Pentagon to co-ordinate military and security companies in Iraq. Erinys, which specialises in the same area, has made more than £86m, a substantial portion from the protection of oilfields.
The evidence of massive investments and the promise of more multimillion-pound profits to come was discovered in a joint investigation by Corporate Watch, an independent watchdog, and The Independent.
The findings show how much is stake if Britain were to withdraw military protection from Iraq. British company involvement at the top of Iraq's new political and economic structures means Iraq will be forced to rely on British business for many years to come.
A total of 61 British companies are identified as benefiting from at least £1.1bn of contracts and investment in the new Iraq. But that figure is just the tip of the iceberg; Corporate Watch believes it could be as much as five times higher, because many companies prefer to keep their relationship secret
The waters are further muddied by the Government's refusal to release the names of companies it has helped to win contracts in Iraq. >>>cont
Link Here
posted by Kangaroo Brisbane Australia at 5:54 AM
0 Comments:
Post a Comment
<< Home