Drake & Scull wins $19m contract in Kuwait
Dubai, September 21, 2011
Drake and Scull Kuwait (DSK), a subsidiary of Drake & Scull International, secured a $19.87 million contract to execute and coordinate the complete MEP works for an administrative block and mosque for a public sector client in Kuwait.
The project will be completed by November 2013, a statement said.
DSK is also eyeing additional projects in the thriving Kuwaiti domestic construction sector set to post a 2.4 per cent growth to $2.4 billion this year, it added.
The company recently won in the second quarter a set of social, cultural, sports and recreational projects collectively worth Dh155 million ($42.2 million), managed to sustain its strong 2011 performance and retain its status as one of Kuwait’s top Mechanical, Electrical and Plumbing (MEP) specialists securing projects valued at Dh230 million since the beginning of the year, according to the statement.
“With Gulf-wide construction steadily rebounding from the recession, DSK aims to capitalize on the regional presence of its parent company to welcome more major projects onboard,” said Khaldoun Tabari, CEO of DSI.
“Kuwait is an excellent platform for expanding DSI’s business. The country is currently undertaking a $104 billion, four-year economic stimulus plan which includes major infrastructure projects worth over $20 billion in contract revenue.”
“Kuwait will also launch various residential and commercial developments to meet the needs of its rapidly growing population,” he added.
Mark Andrews, managing director of DSI, said: “DSI has more than 44 years of experience in the MENA region and its reputation is well earned and represents the exceptional value attached to the DSK brand of quality and service.”
“The vibrancy of the Kuwaiti market reflects the huge potential of the region and the growing confidence in the GCC construction sector, which we aim to fully capitalize on.”
“DSI acquired a 75 per cent stake in DSK in December 2009 as part of its aggressive expansion plan in Kuwait, Qatar and the Kingdom of Saudi Arabia. DSK was chosen for its excellent reputation and its in-depth expertise of the local market” Andrews concluded. – TradeArabia News Service