Drake & Scull in tie-up with Australia firm
Dubai, March 17, 2011
Drake & Scull Water and Power (DSWP) has signed a MOU with Australian company Earth Heat Resources, to jointly bid for geothermal projects in the Middle East and Africa.
The agreement comes after the company’s announcement of its intention to tap into the markets of Djibouti and Vietnam in Africa and Asia.
“Our association with Earth Heat one of the leading independent geothermal companies in the world, will allow us to explore and identify viable geothermal project opportunities in the Mena region, especially with governments endorsement of such developments through tax incentives, grants and carbon credits,” stated Tawfiq Abu Soud, executive director of DSWP.
“We recognize the potentials in investing in alternative energy solutions and especially in geothermal fields, which have a proven record of being cost effective, reliable, sustainable, and environmentally friendly.”
“We see many synergies between the two companies moving forward and believe that together, we will not only be able to identify and acquire geothermal projects of interest, but also work successfully in advancing these projects into development and production stages,” added Earth Heat managing director Torey Marshall.
DSWP is a specialist contractor in the infrastructure field and especially in the sewage and water solutions sectors.-TradeArabia News Service