$180 million in profit…a good return on it’s $6,250 investment in George “Unelectable” Bush.
The U.S. Agency for International Development Tuesday announced it had awarded a second lucrative contract to rebuild Iraq’s infrastructure to engineering company Bechtel, this one worth $1.8 billion.
The contract will fund projects over the next two years in Iraq ranging from repairing power facilities, water and sanitation systems, to the continued rehabilitation of airport facilities and additional work at the seaport of Umm Qasr.
The contract follows a deal the privately held, San Francisco-based Bechtel signed with USAID last April to rebuild Iraq’s shattered infrastructure. So far that contract has clocked up about $1 billion and will run until December.
USAID officials declined to discuss the profit margins for Bechtel, but said the maximum profits for such deals typically could not exceed 10 percent of the total contract value.
“Typically”. Yeah. I’m convinced….