Drake & Scull subsidiary awarded project worth AED 140 million by CAMPCO Properties
Gulf Technical Construction Company (GTCC) Abu Dhabi – a subsidiary of Drake & Scull International (DSI) PJSC – has been awarded a turnkey project worth AED 140 million by the newly established company CAMPCO Properties LLC.
The project is a G+2 labour accommodation building with an area of 49,425 m² and will accommodate 5000 workers when completed in November 2011.
GTCC Abu Dhabi is the main contractor of the project and will oversee the complete construction of the accommodation building in Al Dhafra, Abu Dhabi. According to CEO of DSI, Mr. Khaldoun Tabari: “This latest project win is a materialisation of our diversification strategy and expansion plan; and it represents a new entry into a promising and lucrative market niche for the company. The Abu Dhabi 2030 economic vision is encouraging development across the emirate, resulting in exponential industrial and infrastructure growth in the market and a need for larger accommodation camps.”
Established earlier this year, in partnership with Buhairan Limited Company and Drake & Scull International Abu Dhabi, CAMPCO Properties LLC was formed as part of DSI’s diversification plan which has been strategically designed to secure reach to new industries and to penetrate lucrative and unexplored market niches in addition to complementing its ongoing organic expansion strategy.
Commenting on the new company, Mr. Tabari said: “CAMPCO is already contributing to our backlog growth and we anticipate further project endorsement in this market segment through our subsidiaries in the UAE.”
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