Drake & Scull closes in on $300m Iraq contract
Dubai, May 21, 2012
Dubai contractor Drake & Scull, which has shifted its focus abroad after a slowdown in the UAE's property sector, is close to winning a $300 million contract in Iraq, the firm's chief executive said on Monday.
The contract will be an oil and gas project to build a pipeline in Basra, Iraq, chief executive Khaldoun Tabari told reporters on the sidelines of a conference in Abu Dhabi. 'We are very close to finalising the deal,' he said.
Drake specialises in mechanical, electrical and plumbing (MEP) work and will also bid for the MEP contract in Abu Dhabi's multibillion dollar airport expansion, Tabari said.
The MEP project is likely to be worth around $1.5 billion and will be awarded after Abu Dhabi signs the main $3 billion contract for the airport, with an Arabtec Holding consortium the preferred bidders for the latter.
Drake, which operates in the Middle East as well as Thailand and Germany, is also eyeing a couple of projects in India and Sri Lanka, Tabari added.-Reuters
More Construction & Real Estate Stories
- Alargan HQ becomes Kuwait's first Leed project
- Tecom parks to become carbon-free zones
- New Tekla software accelerates information flow
- Damac unveils first Trump Estates in ME
- GFH in key London property placement
- Green Valley unveils new UAE, Turkey projects
- Jotun colour collection tracks new trends
- RAK Properties to distribute $27.2m profit
- Top construction firms head to Bahrain
- Investors pull out of $65m Bahrain project
- Projects stalled in Bahrain due to 'mismanagement'
- Emaar rules out plans for new tall tower
- Barwa net profit surges 27.3pc
- RAK Properties adds new villas to Flamingo project
- Saudi launches housing scheme to ease shortage
- R&M wins Oman residential project contract
- Asian skyscraper prices tower over rest of the world
- Tamleek opens new office in Dubai
- $29m allocated for Bahrain drainage projects
- Indian group plans $300m Bahrain Bay investment
- Drake and Scull awards key supply contract
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand