Post by Islamic Revival on Apr 23, 2006 0:17:14 GMT -5
Capitalist countries and their companies have always set out to exploit other countries. Europe’s colonial past and America’s colonial present are testimony to this, particularly in the case of Iraq. The capitalist countries swooped upon its land and resources completely sucking it dry of everything.
Not least British businesses have profited by at least £1.1bn since western forces occupied Iraq three years ago, in an investigation into UK corporate investment in Iraq by Corporate Watch, an independent watchdog, and UK broadsheet The Independent.
The companies come from private security services, banks, PR consultancies, urban planning consortiums, oil companies, architects offices and energy advisory bodies. While some are known many chose to remain anonymous.
A total of 61 British companies are identified as benefiting from at least £1.1bn of contracts and investment in the new Iraq. But that figure is just the tip of the iceberg; Corporate Watch believes it could be as much as five times higher, because many companies prefer to keep their relationship secret.
Furthermore the UK Government refuses to release the names of companies it has helped to win contracts in Iraq. Indeed many of the companies enjoy long-standing relationships with the ruling Labour party and now have a financial stake in reconstructing Iraq in Britain's image.
These British private companies feed on insecurity and instability. Corporate Watch estimates there are between 20,000 and 30,000 security personnel working in Iraq, half of whom are employed by companies run by retired senior British officers and at least two former defence ministers.
Loukas Christodoulou, of Corporate Watch, has been monitoring British business relations with Iraq since the invasion. He says in his conclusion to our joint report: "The presence of these consultants in Iraq is arguably a part of the UK government's policy to push British firms as lead providers of privatisation support. The Department for International Development has positioned itself as a champion of privatisation in developing countries. The central part UK firms are playing in reshaping Iraq's economy and society lays the ground for a shift towards a corporate-dominated economy. This will have repercussions lasting decades."
In five years, the £1.1bn of contracts identified in the report will be dwarfed by what Britain and the US hope to reap from investments. Highly lucrative oil contracts have yet to be handed out.
These findings shed light on the colonial motives behind why Britain is reluctant to withdraw from Iraq. British company involvement at the top of Iraq's new political and economic structures ensures that Iraq will be forced to rely on British business for many years to come.
The following is a list of the top 10 firms profiting from Iraq
1. AMEC £500m
It is a global project management company specialising in the oil and gas and engineering sectors.
2. Aegis £246.5m+
A big UK success story in Iraq, having won the $430m Pentagon contract to oversee all private security operations. Aegis is run by Tim Spicer, a former British army lieutenant colonel. Indeed Aegis website was host to recent videos of employees murdering Iraqi civilians indiscriminately.
3. Erinys £86m+
Based in London, Erinys specialises in security for the petroleum, construction and mining industries. In Iraq, it has been responsible for the creation of an oil protection force. Between August 2003 and December 2004, Erinys Iraq trained, equipped and mobilised a 16,000-strong Iraqi guard force to protect the pipelines.
4. Petrel Resources (Anglo-Irish) £56.6m
It is a London and Dublin listed oil and gas exploration company, with current operations focused on Iraq where it is seeking licences to run three existing oil wells.
5. HSBC £36.88m
HSBC is the third biggest financial institution in the world. Has bought 70 per cent of a recently established Iraqi bank, Dar es Salaam Investment Bank, which has assets of $91.1m. HSBC's share is therefore £36,881,225. Its profit from Middle East business rose 25 per cent in 2004.
6. Cummins UK £25.8m+
The world's largest manufacturer of diesel engines has been awarded contracts worth $45m from sales to power stations in Iraq.
7. PB Power £24.88m
The global engineering and construction firm with a $43.4m contract to provide programme management office support for the electrical services sector.
8. Control Risks £23.5m+
The risk consultancy business helps companies with everything from capital raising to crisis management. It provides governmental and corporate clients with security management, discreet armed protection, and information support.
9. MerchantBridge £22.07m
It is is an investment banking group focusing on telecommunications, real estate, construction, financial services, information technology and hotels in Iraq. "Lead adviser" to Iraq's Ministry of Industry and Minerals for factory lease programme (January 2004); launched Mansour Bank (September 2005), capitalised at $38.5m; 90 per cent from Iraqi investors.
10. Global Risk Strategies £15.4m (at least)
Risk management company, which advises on all aspects of corporate security, including counter-terrorism strategies.
The high-profile players
LT-COL TIM SPICER (RETIRED) OBE
Former Scots Guards, former SAS, Spicer is chief executive of Aegis, a private security firm. He founded Sandline, along with Simon Mann (who is now jailed for plotting a coup in Equatorial Guinea)
NICHOLAS SOAMES
The former Defence minister (from 1994-97), is a non-executive director of Aegis
MAJ-GEN JEREMY PHIPPS (RETIRED)
Former SAS, former head of British Special Forces 1989-1993. Previously linked to the consultancy group Control Risks, Phipps is now the head of Aegis operations in Iraq
SIR MALCOLM RIFKIND
The Tory former defence secretary is a non-executive director and chairman of Armor Group, which has been awarded £11.4m of public contracts in Iraq
HARRY LEGGE-BOURKE FORMER CAPTAIN IN WELSH GUARDS
Friend of Prince Charles and brother of Prince William's nanny. Former aide-de-camp to chief of defence staff. Operations chief for Olive Security - turnover almost doubled in 2004.
GENERAL SIR MICHAEL ROSE
Commander of the 22nd SAS regiment, 1979-82. and first Director special forces, 1988-89; non-executive director of Control Risks Group
TIM BELL
His firm Bell-Pottinger was awarded a £3m by the British Government to promote democracy in the run-up to the 2004 elections. A favourite of the Thatcher governments, Tim Bell ran the Tories' election campaigns in 1979, 1983 and 1987. His PR firm Bell-Pottinger has been involved in advising on the 2004 elections and a strategic campaign to promote concepts such as the return of sovereignty, democracy reconstruction, support for the army and police, minority rights and public probity.
SIR JEREMY GREENSTOCK
One of Britain's foremost diplomats, he is a non-executive director of De la Rue, a financial services company which has won one of the biggest contracts in Iraq for printing the new Iraqi dinar
BARONESS BLACKSTONE
Former minister of state, appointed a non-executive director of the Mott MacDonald Group in 2005. The engineering consultancy was given a £1.2m contract from DfID for infrastructure work in Iraq.
GEORGE ROBERTSON
Former secretary general of Nato and former Labour defence secretary, is a non-executive director of Weir, the engineering company, which was involved in contract doing oil assessments. Has been in Iraq since May 2003.
Source: KCom Journal
Not least British businesses have profited by at least £1.1bn since western forces occupied Iraq three years ago, in an investigation into UK corporate investment in Iraq by Corporate Watch, an independent watchdog, and UK broadsheet The Independent.
The companies come from private security services, banks, PR consultancies, urban planning consortiums, oil companies, architects offices and energy advisory bodies. While some are known many chose to remain anonymous.
A total of 61 British companies are identified as benefiting from at least £1.1bn of contracts and investment in the new Iraq. But that figure is just the tip of the iceberg; Corporate Watch believes it could be as much as five times higher, because many companies prefer to keep their relationship secret.
Furthermore the UK Government refuses to release the names of companies it has helped to win contracts in Iraq. Indeed many of the companies enjoy long-standing relationships with the ruling Labour party and now have a financial stake in reconstructing Iraq in Britain's image.
These British private companies feed on insecurity and instability. Corporate Watch estimates there are between 20,000 and 30,000 security personnel working in Iraq, half of whom are employed by companies run by retired senior British officers and at least two former defence ministers.
Loukas Christodoulou, of Corporate Watch, has been monitoring British business relations with Iraq since the invasion. He says in his conclusion to our joint report: "The presence of these consultants in Iraq is arguably a part of the UK government's policy to push British firms as lead providers of privatisation support. The Department for International Development has positioned itself as a champion of privatisation in developing countries. The central part UK firms are playing in reshaping Iraq's economy and society lays the ground for a shift towards a corporate-dominated economy. This will have repercussions lasting decades."
In five years, the £1.1bn of contracts identified in the report will be dwarfed by what Britain and the US hope to reap from investments. Highly lucrative oil contracts have yet to be handed out.
These findings shed light on the colonial motives behind why Britain is reluctant to withdraw from Iraq. British company involvement at the top of Iraq's new political and economic structures ensures that Iraq will be forced to rely on British business for many years to come.
The following is a list of the top 10 firms profiting from Iraq
1. AMEC £500m
It is a global project management company specialising in the oil and gas and engineering sectors.
2. Aegis £246.5m+
A big UK success story in Iraq, having won the $430m Pentagon contract to oversee all private security operations. Aegis is run by Tim Spicer, a former British army lieutenant colonel. Indeed Aegis website was host to recent videos of employees murdering Iraqi civilians indiscriminately.
3. Erinys £86m+
Based in London, Erinys specialises in security for the petroleum, construction and mining industries. In Iraq, it has been responsible for the creation of an oil protection force. Between August 2003 and December 2004, Erinys Iraq trained, equipped and mobilised a 16,000-strong Iraqi guard force to protect the pipelines.
4. Petrel Resources (Anglo-Irish) £56.6m
It is a London and Dublin listed oil and gas exploration company, with current operations focused on Iraq where it is seeking licences to run three existing oil wells.
5. HSBC £36.88m
HSBC is the third biggest financial institution in the world. Has bought 70 per cent of a recently established Iraqi bank, Dar es Salaam Investment Bank, which has assets of $91.1m. HSBC's share is therefore £36,881,225. Its profit from Middle East business rose 25 per cent in 2004.
6. Cummins UK £25.8m+
The world's largest manufacturer of diesel engines has been awarded contracts worth $45m from sales to power stations in Iraq.
7. PB Power £24.88m
The global engineering and construction firm with a $43.4m contract to provide programme management office support for the electrical services sector.
8. Control Risks £23.5m+
The risk consultancy business helps companies with everything from capital raising to crisis management. It provides governmental and corporate clients with security management, discreet armed protection, and information support.
9. MerchantBridge £22.07m
It is is an investment banking group focusing on telecommunications, real estate, construction, financial services, information technology and hotels in Iraq. "Lead adviser" to Iraq's Ministry of Industry and Minerals for factory lease programme (January 2004); launched Mansour Bank (September 2005), capitalised at $38.5m; 90 per cent from Iraqi investors.
10. Global Risk Strategies £15.4m (at least)
Risk management company, which advises on all aspects of corporate security, including counter-terrorism strategies.
The high-profile players
LT-COL TIM SPICER (RETIRED) OBE
Former Scots Guards, former SAS, Spicer is chief executive of Aegis, a private security firm. He founded Sandline, along with Simon Mann (who is now jailed for plotting a coup in Equatorial Guinea)
NICHOLAS SOAMES
The former Defence minister (from 1994-97), is a non-executive director of Aegis
MAJ-GEN JEREMY PHIPPS (RETIRED)
Former SAS, former head of British Special Forces 1989-1993. Previously linked to the consultancy group Control Risks, Phipps is now the head of Aegis operations in Iraq
SIR MALCOLM RIFKIND
The Tory former defence secretary is a non-executive director and chairman of Armor Group, which has been awarded £11.4m of public contracts in Iraq
HARRY LEGGE-BOURKE FORMER CAPTAIN IN WELSH GUARDS
Friend of Prince Charles and brother of Prince William's nanny. Former aide-de-camp to chief of defence staff. Operations chief for Olive Security - turnover almost doubled in 2004.
GENERAL SIR MICHAEL ROSE
Commander of the 22nd SAS regiment, 1979-82. and first Director special forces, 1988-89; non-executive director of Control Risks Group
TIM BELL
His firm Bell-Pottinger was awarded a £3m by the British Government to promote democracy in the run-up to the 2004 elections. A favourite of the Thatcher governments, Tim Bell ran the Tories' election campaigns in 1979, 1983 and 1987. His PR firm Bell-Pottinger has been involved in advising on the 2004 elections and a strategic campaign to promote concepts such as the return of sovereignty, democracy reconstruction, support for the army and police, minority rights and public probity.
SIR JEREMY GREENSTOCK
One of Britain's foremost diplomats, he is a non-executive director of De la Rue, a financial services company which has won one of the biggest contracts in Iraq for printing the new Iraqi dinar
BARONESS BLACKSTONE
Former minister of state, appointed a non-executive director of the Mott MacDonald Group in 2005. The engineering consultancy was given a £1.2m contract from DfID for infrastructure work in Iraq.
GEORGE ROBERTSON
Former secretary general of Nato and former Labour defence secretary, is a non-executive director of Weir, the engineering company, which was involved in contract doing oil assessments. Has been in Iraq since May 2003.
Source: KCom Journal