Spanish equipment rental company GAM (General de Alquiler de Maquinaria) has announced a major investment to enter the Iraqi market.
Chief Operating Officer, Carlos Araoz, told IRN that the new depot in Erbil would be part funded using $20 million from an American source.
"In Iraq I will not have Loxam or Lavendon competing with me. There is an amazing infrastructure plan and oil and gas projects."
He added that GAM's Saudi Arabian contacts were helping it enter the Iraqi market.
Mr Araoz said there were few security problems in northern Iraq and that the Kurdistan depot would be linked to a new branch in Turkey planned in the coming months.
(Source: Access International)