Drake wins Saudi, UAE contracts worth $180m
Dubai, April 16, 2013
Drake & Scull International (DSI), a leading engineering and construction company, has been awarded a set of contracts collectively worth Dh663 million ($180.million) for three government complexes Saudi Arabia and the UAE.
DSI is currently gearing its operations to mobilize on projects sites immediately, a company statement said.
The estimated completion date for the government facility in Abu Dhabi is the first quarter (Q1) of 2015 whereas the facilities of Makkah and Sharjah are due for handover in Q4 2013 and Q2 2015 respectively.
Khaldoun Tabari, CEO of Drake & Scull International, said: “Saudi Arabia and the UAE continue to be our main growth markets in the GCC as we have managed to secure a series of consecutive contracts in these areas year to date.”
“These latest projects will shortly start contributing to the revenue stream and profitability of the company as productivity on site increases. The integration of our General Contracting and Engineering businesses has proven to be a key element to our successful bids across all sectors and we expect this trend to continue onwards.”
DSI closed the year 2012 with a record high backlog of Dh 9.1 billion, the statement said. – TradeArabia News Service