LYCOS RETRIEVER 
Bechtel Corporation: Iraq
built 208 days ago
U.S.-based engineering firm Bechtel Corporation says it is pulling its employees out of Iraq now that its three-year contract to rebuild the war-torn country has expired. The escalating violence in that country has delayed many reconstruction projects and has already claimed the lives of hundreds of contractors. Despite large multi-million dollar contracts awarded by the government to rebuild Iraq, some contractors are reassessing whether the business is worth the risk.
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The U.S. Dept. of Agriculture's Commodity Credit Corporation (CCC) funded Bechtel's construction of the PC-2. The CCC is designed to create export markets for US farmers, but, in the 1980s, the Reagan-Bush Administrations used it as a "piggy bank" to covertly arm Iraq. The Atlanta branch of the Banca Nazionale del Lavoro (B.N.L.) used CCC guaranteed loan to fund Bechtel's construction of the PC-2 project, which was obviously not a grain purchase.
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Bechtel – a corporation so powerful that it won a billion-dollar, no-bid Bush administration contract to rebuild Iraq – found it all more than even it could take. Last June, Bechtel and its associates raised the white flag and began negotiating a deal to drop their case – for a token payment of two bolivianos (thirty cents). Sources close to the negotiations say that Bechtel’s
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