Khaldoun Tabari, CEO of Drake & Scull International
Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, has been awarded a set of Engineering and General Contracting contracts collectively worth AED 663 million for three government complexes in Mecca, Abu Dhabi and Sharjah.
DSI is currently gearing its operations to mobilize on projects sites immediately. The estimated completion date for the government facility in Abu Dhabi is Q1 2015 whereas the facilities of Mecca and Sharjah are due for handover in Q4 2013 and Q2 2015 respectively.
Commenting on the awards Khaldoun Tabari, CEO of Drake & Scull International, said: “KSA 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 AED 9.1 billion as of the 31st of December. The company has been earlier awarded in Q1 three separate contracts by Al Rajhi Bank with a combined value of AED 287 million to construct the bank’s Cash Centre, Operations Centre and a major Data Centre facility in Riyadh. The company has also secured an AED 82 million contract for the construction of a government utility project in Abu Dhabi in March 2013. The Company managed to secure AED 1.1 billion worth of work in KSA, Qatar and Abu Dhabi in Q1 2013 and is poised for significant growth in Q2 as projects award momentum increases in these markets.