Javid Hassan • Arab News Staff

RIYADH, 8 June 2003 — Two Saudi companies are among 13 international firms to have been awarded contracts for the reconstruction of Iraq.

This information was released at a meeting of the US-Saudi Arabian Business Council here.

The Saudi companies — Al-Tamimi Global Company and National Catering Company — have won housing and catering contracts from US construction giant Bechtel. The value of the contract was not disclosed. This brings to 13 the number of subcontracts awarded by Bechtel for reconstruction of the Iraqi capital Baghdad So far, over 4,500 firms have registered with Bechtel for upcoming subcontracts. Of the nine Iraq reconstruction projects together worth $2.4 billion, the US Agency for International Development (USAID) has awarded a major contract to Bechtel valued at $ 680 million. Bechtel is looking for subcontractors for the project.

Dr. Gene W. Heck of the American Business Council of the Gulf Countries said Saudi Arabia understood the challenges of working in the Middle East. Saudi contractors could be competitive there, especially in the areas of construction, development, housing and power generation. He said conditions for pre-qualifying companies wishing to bid for tenders could be accessed on the Bechtel website www.bechtel.com/iraq.html.

Heck said other Saudi companies were interested in bidding for the projects, but are concerned over security, insurance and other issues. The estimated value of Iraq’s reconstruction market had been placed at a low of $50 billion and a high of $150 billion over the next ten years, he added.

Speaking on behalf of the Council of Saudi Chambers of Commerce and Industry, Fahad M. Aslimy, deputy secretary-general, said the council had been collecting information on business opportunities for Saudi companies. The data would be placed on the website of the Saudi Export Development Center.