Drake & Scull wins $27m India project
Dubai, March 7, 2012
Drake & Scull International said on Wednesday its utilities unit had won a 100 million dirham ($27 million) contract to set up an intake water system for a thermal power station in Orissa, India.
Work on the project will start immediately and is expected to be completed in March 2013, the company said in a statement to the Dubai bourse.
Drake & Scull is strengthening and expanding its utilities, infrastructure and water industries in India, said Tawfiq Abu Soud, the firm's executive director.
"Presently real estate accounts for about 5 percent of India's GDP and is expected to rise up to 6 percent over the next five years," Abu Soud said. "The current boom in the construction segment with many large projects in the pipeline represents enormous opportunities for the company especially in the Water and MEP sectors." - Reuters