US contractor Contrack International has pulled out of the reconstruction effort in Iraq, a news report said.

The company blamed high security costs for its move.
“We reached a point where our costs were getting to be prohibitive,” company president Karim Camel-Toueg told the Los Angeles Times.
Contrack, based in Arlington, Virginia, had won a $325-million award to rebuild Iraq’s shattered transport system.
US officials said Contrack’s decision to terminate work in Iraq was reached with the US government in November, but had not been publicly disclosed.
Contrack, the leader of a partnership that won one of 12 major reconstruction contracts awarded last year, was the largest company to pull out of Iraq to date.
But the company’s move would not hamper rebuilding in Iraq, they said, adding that the contract would be put up for rebidding, a process which the newspaper said could take months.