Drake & Scull International achieves a backlog of AED 5.5 billion
Drake & Scull International (DSI) PJSC has announced that the company's backlog as of September 30th 2010 stood at AED 5.5 billion, a 66% increase over the AED 3.3 billion backlog recorded at the end of 2009.
The latest figures include the consolidation of Drake & Scull International Saudi's backlog following the recent 65% acquisition of the company by DSI.
Drake & Scull International has also announced today contract wins of three new projects – two in Oman and one in the UAE.
"At the beginning of 2010, we set out to expand our business portfolio and estimated an end-of-year backlog of over AED 5 billion," commented Khaldoun Tabari, CEO of DSI.
"As it stands now, the company's backlog is a realisation of that promise which was made to our shareholders a year ago."
DSI's order backlog is reflective of the company's fully-fledged operational capabilities in the Middle East, which has allowed them to provide integrated end-to-end engineering services to a number of prominent projects across the region.
The value of the latest projects won by DSI, in Oman and the UAE, amounts to a combined total of AED 100 million, bringing the company's project win portfolio this year to over AED 3 billion compared to AED 2 billion in 2009.
The company will oversee the supply, installation, testing and commissioning of Mechanical, Electrical & Plumbing (MEP) works for the two projects in Oman and the complete civil construction and MEP works for the latest project in Dubai.
Tabari continued, "We have won 26 major projects across the region since the start of 2010 and we look forward to the major contribution these will make to the company's development in 2011 and beyond."
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