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DSI PJSC awarded AED 1 billion worth of contracts in Q1

2010-03-23

[Dubai, UAE, March 22 2010] – Drake & Scull Water and Power (DSWP), a Drake & Scull International PJSC (DSI) subsidiary has announced that it has been awarded the entire utilities development works at the Residential Compound located in the prestigious Khalifa A City, Abu Dhabi.Earlier this year, DSWP was awarded the district cooling works at the same compound, and it will now begin relevant infrastructure works that include sewer lines, irrigation, telecommunications services, fire fighting, sub stations, and all related civil works such as roads and paving. “This contract win marks the eighth for DSI in 2010, bringing the total value of the projects awarded to date to AED 1 billion.  Reaching such a milestone so early in the year has exceeded our expectations,” said Khaldoun Tabari, CEO and Vice Chairman of DSI, “These results are a testament to our progressive growth strategy and such achievements assure us that we are on the right path with our plans for 2010”. DSWP has its headquarters based in the UAE, and has undertaken projects across the MENA region in countries such as Sudan, Bahrain and Saudi Arabia.  Their engineering specialities include district cooling, water, wastewater and sludge treatment, telecommunications and power infrastructure, and oil and gas infrastructure.  Tawfiq Abu Soud, Executive Director of DSWP commented “One of the motivating factors for us in deciding to form a business stream dedicated to managing and controlling Infrastructure, Water and Power (IWP) works was the surety that we would continuously have a demand in the market to cater to – this has indeed been the case till now due to the non diminishing demand for water and power, which are the basic elements needed in any community.” “DSWP has built up a considerable technical and commercial solutions background in this market, and we seek to invest in developing our resource capabilities to ensure that we are able to offer world class solutions to our clients”, continued Abu Soud.  DSI has developed into a regional integrated player in the engineering field by adding diversified projects to their portfolio, allowing them to cater to multiple client needs, while positioning themselves for unprecedented growth and promising exceptional returns for its shareholders.