| 06 Sep 2010 |
|
Drake & Scull subsidiary awarded project worth AED 140 million by CAMPCO Properties LLC
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Project awarded to Gulf Technical Construction CompanyGulf Technical Construction Company
Abu Dhabi for the construction of labour accommodation for a prominent governmental body in Abu DhabiAbu Dhabi, September 6, 2010 - Gulf Technical Construction CompanyGulf Technical Construction Company
(GTCCGTCC) Abu Dhabi - a subsidiary of Drake & Scull International (DSI) PJSCDrake & Scull International (DSI) PJSC - has been awarded a turnkey project worth AED 140 million by the newly established company CAMPCO Properties LLC. The project is a G+2 labour accommodation building with an area of 49,425 m² and will accommodate 5000 workers when completed in November 2011.
GTCCGTCC
Abu Dhabi is the main contractor of the project and will oversee the complete construction of the accommodation building in Al Dhafra, Abu Dhabi.According to CEO of DSI, Mr. Khaldoun Tabari: "This latest project win is a materialisation of our diversification strategy and expansion plan; and it represents a new entry into a promising and lucrative market niche for the company. The Abu Dhabi 2030 economic vision is encouraging development across the emirate, resulting in exponential industrial and infrastructure growth in the market and a need for larger accommodation camps."
Established earlier this year, in partnership with Buhairan Limited Company and Drake & Scull International Abu Dhabi, CAMPCO Properties LLC was formed as part of DSI's diversification plan which has been strategically designed to secure reach to new industries and to penetrate lucrative and unexplored market niches in addition to complementing its ongoing organic expansion strategy.
Commenting on the new company, Mr. Tabari said: "CAMPCO is already contributing to our backlog growth and we anticipate further project endorsement in this market segment through our subsidiaries in the UAE."
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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. 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 PJSCDrake & Scull International PJSC
Mariana Missakian
Corporate Communications Manager
Tel: +971 4 8112300
Email: mariana.missakian@drakescull.com
Cicero & Bernay Public Relations
Tariq Al-Sharabi
Account Director
Mobile: +971 50 626 5535
Tel: + 971 4 334 2966
Fax: + 971 4 334 2977
Email: tariq@cbpr.ae
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