| 27 Jul 2010 |
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DSI regional expansion stimulates substantial and continuous growth
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The company secures a series of consecutive project wins in Kuwait, Oman and Qatar for a total value of AED 80million.
Drake & Scull International PJSCDrake & Scull International PJSC
(DSI)(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 DSIDSI 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 DSIDSI. "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."
DSIDSI, 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. DSIDSI 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.
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About Drake & Scull International PJSC
Drake & Scull International PJSCDrake & Scull International PJSC (DSI)(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. DSIDSI 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 PJSCDSI 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 PJSCDSI 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 PJSCDSI 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 PJSCDrake & Scull International PJSC
Mariana Missakian
Corporate Communications Manager
T: +971 4 8112300
E: mariana.missakian@drakescull.com
Cicero & Bernay Public Relations
Manal Shaikh
Senior Account Executive
M: +971 50 459 1762
T: + 971 4 334 2966
E: manal@cbpr.ae
© Press Release 2010
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