UAE. Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, signed today a letter of award to execute a AED 251 million Engineering contract for a major government facility in the Emirate of Abu Dhabi.
The scope of the contract includes electro-mechanical works of the hardscape and landscape components of the facility scheduled to be completed in 2014. The recent award in Abu Dhabi marks a series of impressive contract wins in the emirate including the Iconic Fairmont Hotel and the Louvre Museum announced earlier in Q3 2013.
Commenting on the award Khaldoun Tabari, CEO of Drake & Scull International said, “We have managed to secure AED 6.1 Billion worth of contracts across the region year to date. Abu Dhabi continues to add momentum to our growth strategy in 2013 and we aim to further cement our strategic position in this promising market that represents lucrative potentials to our business streams across all sectors. We remain optimistic on our growth prospects in the second half of the year and our focus remains on delivering on our record high backlog standing at AED 11.7 billion as of the 30th of June 2013.”
DSI continues to enhance and strengthen its services offering with unmatched vertical integration and global footprint. The company successfully achieved total Revenues of AED 2.567 billion and total Net Profit of AED 114.9 million for the first half of 2013 ended June 30th.
Total project awards year to date reached AED 6.1 billion in KSA, UAE, Qatar, Jordan and India. The Order Backlog reached a record high closing at AED 11.7 billion as of the 30th of June representing a 58.1% growth compared to AED 7.4 billion recorded during the same period last year. The collaborative capabilities of the Engineering services (MEP and Water and Power), General Contracting, Oil and Gas, Rail and Infrastructure development continue to deliver strong performance quality work on project sites. Armed with a multicultural workforce, inherent financial strength and solid regional experience, the company’s outlook remains positive in terms of realizing greater profitability and improving productivity across MENA, South Asia and Europe
About Drake & Scull International PJSC
Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of Engineering (Mechanical Electrical and Plumbing (MEP) and Water & Power), General Contracting, Oil and Gas, Rail and Infrastructure, through People, Innovation, and Passion.
DSI established its first office in Abu Dhabi in 1966, and has since expanded operations to encompass offices in Dubai, Egypt, Kuwait, Libya, Oman, Saudi Arabia, Syria, Qatar, Jordan and India, Thailand, as well as managing projects in Europe and other parts of North Africa.
DSI ‘s main business streams include Drake & Scull Engineering, which serves as the MEP and Water & Power arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit and Drake and Scull Development, focusing on the Infrastructure sector.
In 2008, DSI offered 55% of its shares to the public and the IPO was oversubscribed 101 times. Ernst & Young ranked the IPO among the top 20 global IPOs in 2008.
DSI has since then used the funds to integrate, establish and acquire businesses that complement its corporate strategy of expansion into new markets, via organic and inorganic growth.
The fully Integrated Management Systems, certified to ISO 9001:2008, ISO 14001:2005 and OSHAS 18001:2007 standards are compliant with leading building, health and safety regulations, as well as sound environmental and energy management procedures.
DSI is a leader through experience, and has established a regional leadership position over 48 years of successfully completing the most complex projects on time, within budgets and matching set quality parameters.
DSI has completed many prestigious projects in the region for over four decades, and has helped shape the region’s skyline from within.