Contrack pulls out of Iraq Rail construction job

[carnej1]

I actually saw this posted on several major news sites when it happened. It's interesting to note that Contrack is actually a wholly owned subsidiary of an Egyptian construction firm, so one wonders if there were political considerations in pulling out of Iraq.

[MP57313]

Contrack is an international construction firm that was part of a jont venture working on rail and bridge construction in Iraq. Just last year it was awarded a $325M contract.

In December, the venture stopped working on the project due to the high security risks; the high cost of security made the work no longer profitable.
Contrack was looking for "other work" in Iraq but I did not see any more details.

The company's website at www.contrack.com mentions the initial contract award, but it does not mention the work has stopped. A Google search of this subject will turn up Washington Post and other articles that cover this.

MP