"I'm an enthusiastic supporter of the peace process. I've been following developments for years, since I left Iraq. Up to now I supported the peace process in theory. Now I'm going to come up with practical support," Iraqi billionaire Walid Alomar told "Globes" today.
Alomar arrived in Israel for the first time to attend the Israel Business Conference. "Now it's clear to me that this is a first, but not last, visit," Alomar says.
As reported by "Globes" yesterday, Alomar has decided to set up a $200 million investment fund.
"Globes:" What kind of investments will you be looking for in this region?
Walid Alomar:"The investment itself isn't that important to us. It's investment based on philosophy and political faith. I'd like to make my humble contribution to this important process."
"Probably yes. We'll also try to get into technology sectors."
Would you consider participation in an Israeli-Egyptian project for setting up oil refineries in Egypt?
"Everything's possible."
In the course of your visit you met Shimon Peres. Did you discuss investment in various projects?
"Yes. I'm a great admirer of Peres. His speech at the Conference was fascinating. I'd be glad to do things in cooperation with his people, but it's too early to say whether this will come through. Further meetings have been set up for us."
Is your decision to invest here connected with the peace process with Syria?
"Definitely. I've great faith in Ehud Barak, whom I've been watching for a long time. I've no doubt he'll succeed in bringing peace."
Alomar has been living in the US since the 1950s. He is the owner of an international investment and consultancy firm that bears his name. The projects initiated by the company in recent years include the construction of oil refineries in Iraq, the construction of a $4.8 billion power station in Saudi Arabia, and infrastructure projects in Yemen and the Gulf states.
Alomar bought Korean company Daewoo Electronics for $3.2 billion. He is also one of the entrepreneurs of a $3 billion telecommunications project in China, and other projects in the Czech Republic, Russia, and other East European countries.
Published by Israel's Business Arena December 13, 1999