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Contrack International Inc., an Arlington engineering and construction company, became the first major U.S. firm to withdraw from a reconstruction contract in Iraq because the deteriorating security environment had made working there too costly.
The company led a team assigned to rebuild the country's transportation system, including construction of new roads and bridges. The contract, awarded in January, could have been worth as much as $325 million to Contrack and its subcontractors.
Contrack said in a news release that it ended the contract because "the original scope of work that was envisioned could not be executed in a cost effective manner under the present circumstances." News of Contrack's withdrawal was reported in yesterday's editions of the Los Angeles Times.
The company said it is still doing some work in Iraq and is pursuing other opportunities in the country. Contrack executives did not respond to telephone messages and e-mails seeking comment.
http://www.washingtonpost.com/wp-dyn/articles/A20858-2004Dec22.html
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