Drake wins $68.3m Abu Dhabi contract
Abu Dhabi, September 11, 2013
Drake & Scull International (DSI), a leading regional contractor, said it has won a Dh251 million ($68.3 million) engineering contract for a major government facility in Abu Dhabi.
The scope of the contract includes electro-mechanical works of the hardscape and landscape components of the facility scheduled to be completed in 2014, saida statement from the Dubai builder.
The recent award in Abu Dhabi marks a series of impressive contract wins in the emirate including the Iconic Fairmont Hotel and the Louvre Museum announced earlier in the third quarter.
Commenting on the win, CEO Khaldoun Tabari said Drake & Scull has managed to secure Dh6.1 billion worth of contracts across the region year to date.
"Abu Dhabi continues to add momentum to our growth strategy in 2013 and we aim to further cement our strategic position in this promising market that represents lucrative potentials to our business streams across all sectors," he remarked.
According to him, DSI continues to enhance and strengthen its services offering with unmatched vertical integration and global footprint.
The company successfully achieved total revenues of Dh2.567 billion and total net profit of Dh114.9 million for the first half of 2013 ended June 30.
"We remain optimistic on our growth prospects in the second half of the year and our focus remains on delivering on our record high backlog standing at Dh11.7 billion as of June 30, 2013," he added.-TradeArabia News Service