Drake & Scull Won Dhs1.3bn Deals In Q1

The UAE-based construction company will eye major contracts in Qatar this year.

UAE-based construction company Drake & Scull International (DSI) secured projects worth Dhs1.3 billion across the MENA region during the first quarter of this year, it announced in a statement.

DSI said that it expects its Qatari arm to increasingly contribute to the growth of the company this year, boosted by the recent establishment of its rail and civil divisions.

“DSI Qatar has a large number of on-going and completed high-profile projects and is equipped to take part in other developments that are critical components of the government’s roadmap to the FIFA World Cup 2022,” the company said.

“Tenders for major projects in the hospitality, rail and the infrastructure sectors are underway in Quarter two and we are currently bidding across all our business lines,” said Khaldoun Tabari CEO of DSI.

“We anticipate rising pressures on pricing levels given the severe competition and the costs associated with the sourcing of the necessary human and technical resources to cater for such large scale projects,” he said.

Last month, DSI signed a $38 million contract to undertake mechanical electrical and plumbing services at the Assila Towers project in Jeddah, a development that will be operated by Rocco Forte Hotels. The company also secured a $230 million civil contracting project in Algeria and a $27 million contract with a power plant in Orissa, India.

Last week, Tabari confirmed that DSI is planning to bid for construction work on the Louvre museum in Abu Dhabi.

The company recorded a net profit of $59.8 million in 2011, a 36 per cent rise compared to 2010.