DSI regional expansion stimulates substantial and continuous
growth
The company secures a series of consecutive
project wins in Kuwait, Oman and Qatar for a total value of AED
80million.
Drake & Scull
International PJSC (DSI) investments in regional expansion are delivering
steady returns for the company as they announce 4 new awards in Kuwait, Qatar
and Oman collectively, bringing the total value of projects awarded to DSI from
the beginning of the year to AED2.5billion compared to AED1.5billion for the
same period last year.
“We see a variety of opportunities to continue to
grow our business substantively across the region” said Khaldoun Tabari, CEO of
DSI. “We will continue the geographical
expansion into regions with growth potential, and continue to deliver
innovative engineering solutions that drive efficiency. We are committed to
explore all viable opportunities to achieve our short and long-term growth objectives
and realize healthy returns to our shareholders.”
DSI, a UAE based company since 1966, has set out
achieving its ambitious growth strategy from early 2009. Fuelled with the IPO
proceeds of over AED2 billion, the company, through acquisitions and organic
growth, now has offices in more than 15 countries with projects in more than 21
cities across the globe.
The 4 new projects, worth a combined value of AED
80million, include The Immigration General Directorate Building in Farwaniya, Kuwait;
the Arabilla Tourist and Entertainment Complex in Salmiya,
Kuwait, a commercial
development in Oman; and the
Emergency and Safety College in an Industrial
City in Qatar. DSI will oversee the supply,
installation, testing and commissioning of Mechanical, Electrical &
Plumbing (MEP) works for all the above projects and the heating, ventilation
and air conditioning (HVAC) works and fire fighting programmes for selected
projects.
- Ends -
About Drake & Scull International PJSC
Drake
& Scull International PJSC (DSI) is a regional market leader delivering
world class quality projects in the Middle East and North Africa through
integrated design, engineering and construction disciplines of Mechanical,
Electrical and Plumbing (MEP), Civil Contracting, and Water, Power and
Infrastructure, through Innovation, People and Passion. DSI established its first office in the region
in Abu Dhabi in 1966, and it has since expanded its operations to include
offices in Dubai, Jordan, Libya, Thailand and Oman with projects in Bahrain,
UAE, Saudi Arabia, Sudan, Thailand and Oman.
In
2009, DSI PJSC expanded its operations by acquiring two companies, in line with
the company’s growth strategy: ‘Passavant-Roediger’, a German global developer
of wastewater, water and sludge treatment technologies with a presence in 13
countries across Europe, MENA and
Asia with over 5,000 installations, and Kuwait-based ‘Drake & Scull
International for Electrical Contracting’ (DSK), a prominent player in
Mechanical, Electrical & Plumbing contracting in Kuwait.
In
2010, the DSI PJSC expansion efforts continued with the establishment of two
new business subsidiaries: ‘Drake & Scull Water and Power L.L.C’ (DSWP), which was established to manage and
control all existing and new Water Power and Infrastructure projects across the
MENA region, and ‘Drake & Scull Construction L.L.C’ (DSC), which was
established to manage and control the regional civil contracting expansion in
addition to the existing operations in Dubai and Abu Dhabi. In April 2010, DSI PJSC announced the
acquisition of “Drake & Scull International Qatar L.L.C” (DSQ) a reputable
MEP company based in Qatar, which further fuelled the company’s horizontal
expansion plans allowing it to diversify into new markets and increase its
market share in the region.
For more information, please contact:
Drake & Scull International PJSC
Mariana Missakian
Corporate Communications Manager
T: +971 4 8112300
E: m.missakian@drake-scull.ae
Cicero & Bernay Public Relations
Manal Shaikh
Senior Account Executive
M: +971 50 459 1762
T: + 971 4 334 2966
E: manal@cbpr.ae