Orascom Telecom (OT) will almost double its investment in Iraq to $220 million, the firm's chairman said in remarks published on Saturday. Chairman of the Cairo-based mobile-phone service provider, Naguib Sawiris, said "(There will be) An extra $100 million in investments in the Iraqi market, which presently are $120 million." According to <i>al-Hayat</i> daily, OT announced late last year it had launched mobile telephone services in southern Iraq and planned to start a network in the north.
