Welcome to the selling of Iraq.
I'm sure it'll work just as well as all the other privatization drives that we've seen over the last decade or so. The South Africans have loads to say about privatization of water, f'r instance.
The real question is... shouldn't it be the Iraqis that decide whether or not they want to go with this sort of organization? I don't necessarily agree with the lefties that pontificate about the depredations of neoliberalism, but they're right about one thing: privatization shouldn't be done at the point of a gun.