Yates to Bid on Fed Projects

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Yates, a Mississippi firm that builds casinos, manufacturing plants and condos, underwent a series of FBI background checks and a financial audit before being cleared by the government to make bids on the embassy projects.

Yates personnel say the new embassies will be mostly in emerging nations in Eastern Europe but may extend into Iraq.

Yates bid on a $500 million contract to renovate Iraqi hospitals and schools but lost to a California based company.

The company said it is eyeing other projects in northern Iraq.