DSI Wins Dhs96m Oman Deals

The UAE-based contractor Drake & Scull International (DSI) announced that it has won a series of mechanical, electrical and plumbing (MEP) contracts in Oman worth Dhs96 million.

Under the terms of the contracts, DSI will oversee the complete MEP works including design, supply, installation, testing and commissioning of the projects – all in different sectors, the company said in a statement.

“The future developments in Oman represent an ideal opportunity for DSI to use its proven engineering technologies and regional experience – particularly in the MEP and Water and Power domains – to help expedite the growth of Oman’s construction industry,” DSI CEO Khaldoun Tabari said in the statement.

“Our latest set of contracts reflects our ability to serve multiple sectors and we are eyeing more ventures as Oman rolls out its development plans for the coming years,” he said.

The company has been rapidly expanding, and secured several projects so far this year.

In March, 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.

DSI reported a net profit of Dhs43 million during the first quarter of the year, down 15.6 per cent from Dhs51 million during the same period a year ago.

However, its quarterly revenues rose 20 per cent to Dhs777 million.