Khaldoun Tabari, CEO of Drake & Scull International
Drake and Scull Kuwait (DSK) a subsidiary of Drake & Scull International (DSI) PJSC, a regional market leader in integrated design, engineering and construction disciplines of Mechanical, Electrical and Plumbing (MEP), Civil Contracting, and Water & Power secured a contract to execute and coordinate the complete MEP works for an administrative block and mosque for a public sector client in Kuwait. The project, valued at AED 73 Million will be completed by November 2013.DSK is also eyeing additional projects in the thriving Kuwaiti domestic construction sector set to post a 2.4 per cent growth to USD 2.4 billion this year.
The company recently won in the second quarter a set of social, cultural, sports and recreational projects collectively worth AED 155 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 AED 230 million since the beginning of the year.
“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. As one of the GCC’s most dynamic construction markets, Kuwait is an excellent platform for expanding DSI’s business. The country is currently undertaking a USD 104 billion, four-year economic stimulus plan which includes major infrastructure projects worth over USD 20 billion in contract revenue. Kuwait will also launch various residential and commercial developments to meet the needs of its rapidly growing population” said Khaldoun Tabari, CEO of DSI.
Emphasizing on the heritage of DSI in the region, Mark Andrews, Managing director of DSI, reiterated, “DSI PJSC 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 PJSC 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.
Aside from Kuwait, DSI PJSC has secured several prime projects this year in Oman, Egypt, UAE, Qatar, KSA and other key Asian and European markets collectively worth almost AED 3.6 billion as of September 2011. The company expects to proceed in quarter four with an elevated momentum while bidding for projects in the MENA and Asian regions through its MEP, Civil & Water and Power divisions.