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Iraq reconstruction worth $150bn
18.2.2008
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February 18, 2008
Dubai, — A high-level delegation of Iraqi
officials and private sector firms are in Dubai to
attract investors and suppliers to participate in
rebuilding the war-torn infrastructure of the
country.
International experts estimate to generate business
worth $150 billion (Dh550bn). About $60bn-$70bn is
needed to fully implement the projects already under
way.
The delegation includes Iraqi Defence Minister Abdul
Qadir Obeidi, National Security Affairs Minister
Sherwin Shirwan Al Waili, Acting Communications
Minister Jassim Mohammed Ja’fer and Kurdistan
regional Government KRG Interior Minister Karim
Sinjari
According to John Glassey, Managing Director of the
Iraq Development Programme (IDP), demand for
materials and technology within the key sectors of
the Iraqi economy will generate business worth more
than $150bn. The IDP estimates said $60-$70 billion
is needed to fully implement the projects already
under way in sectors such as oil and gas, energy,
construction, health, education, security and
transport.
Projecting Iraq with the potential to become the
highest revenue-generating country in the Middle
East, Iraq Defence, Security and Communication
conference organisers said the summit is endorsed by
several business chambers from around the world.
IDP is an initiative to develop Iraq into an
economic force as the country has the potential to
earn between $10bn and $15bn from oil sales over the
next few years. The oil production objective is to
produce six million barrels per day by 2010.
The summit, organised by IDP in Dubai until
tomorrow, is addressed, among others, by Paul
Brinkley, Deputy Undersecretary of Defence, US
Department of Defence, and other high-profile
personnel. Leading defence and security contractors,www.ekurd.net
including Raytheon
Corporation, BAE Systems, EADS, General Dynamics,
Lockheed Martin and Northrop Grumman, have
participated in the round-table discussion with
several high-profile Iraqi officials from the
defence, interior and telecommunication ministries
and the regional government of Kurdistan.
According to IDP, coalition forces do not have
sufficient time or resources to protect all of the
organisations and individuals involved in the
development of Iraq. “The security industry has a
crucial role to play in providing services to
visitors working on both short-term and long-term
basis in Iraq. Opportunities are available for
suppliers of security and emergency service
infrastructure, including ambulances and emergency
equipment,www.ekurd.net
fire trucks and
fire-fighting equipment, and police motorcycles.
There is also a need for closed-circuit television,
control systems and anti-burglar alarms, perimeter
protection, surveillance and telecommunications
equipment, IT security, identification processing,
and uniforms and protective clothing. Companies
dealing in crowd and access control management will
also have an important role to play,” IDP said in
its communique.
The second day of the summit today will focus on
communication infrastructure in Iraq and the
participants include Ali Dahwi, General Manager of
Zain Iraq, and senior officials.
“Demand for communication within Iraq varies
greatly, with many opportunities for companies
looking to help restore Iraq’s telecommunications
network. A variety of products and services is
needed within the sector, from wired and wireless
networks for voice, data and internet services to
other equipment such as cables, telecom masts and
antennae, public networks and repair equipment.
There is a huge need for investment in the sector,
with the Ministry of Communications looking to
generate significant funds to implement its
regeneration programme.
The reconstruction of Iraq has created a huge demand
for building equipment and basic building materials,
finishing products, engineering skills, technology
and environmental awareness and maintenance systems.
There is a shortage of 1.4 million housing units and
the poor quality of existing structures mean that
Iraq’s housing market has high potential in the
country. Prisons and schools too have to be
constructed.
Iraq has an extensive network of about 38,000 km of
roads and highways, the majority of which were
constructed in the 1970s and 1980s, needing
immediate maintenance. The strain caused by both
heavy military use and trucks have added to the
problems.
There are more than 1,000 bridges in Iraq. These
bridges are in varying states of disrepair. Some of
the bridges are only temporary pontoon bridges that
need permanent structures, the IDP said.
business24-7 ae
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