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DSI wins $533m Saudi Aramco project

Dubai, February 13, 2011

Drake & Scull Construction Saudi Arabia has won the SR2 billion ($533 million) King Abdullah Petroleum Studies and Research Center (Kapsarc) project in Riyadh from Saudi Aramco.

“We have been dedicating major resources into fortifying and streamlining the newly established entity in Saudi Arabia which has already secured a SR 450 million contract for Al Jawharah project in Jeddah, during the second quarter of 2010,” stated Khaldoun Tabari, chief of DSI.

Developed by Saudi Aramco, Kapsarc is a future-oriented research and policy centre committed to energy and environmental exploration and analysis. The project is headquartered in an iconic complex near King Khalid International Airport designed by world-renowned architect Zaha Hadid, and is composed of a network of three-dimensional, six-sided cells with many junctions and bonds.

In 2010 Drake & Scull had managed to secure a series of projects in the kingdom for a total value of Dh1.2 billion in the Mechanical, Electrical and Plumbing sector, Civil and Water and Power sector.

“The Kapsarc project win is a historical milestone for DSI in Saudi Arabia. The alignment of the company with Saudi Aramco will expand the horizons of our operations in the country across all our business streams and will anchor our presence in this promising market,” added Tabari.
 
Drake & Scull will commence works on the project immediately with a target completion date being August 2012.

DSI’s acquisition of a civil company in Saudi Arabia is on track and will be completed within the first quarter of 2011.-TradeArabia News Service




Tags: Saudi Aramco | Construction | Drake & Scull | education | King Abdullah Petroleum Studies and Research Center |

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