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DSI Cements its Position in the Qatari Market

The company lands a AED 100 million MEP contract in Doha
Drake & Scull International (DSI) PJSC, a regional market leader in integrated design, engineering and construction disciplines of Mechanical, Electrical and Plumbing (MEP), Civil Contracting, and Water and Power announced today at the international MEP summit at Oryx Rotona - Doha that it has secured an AED 100 million MEP contract for a private residential facility in Doha through its newly acquired MEP specialist company Drake & Scull International Qatar L.L.C. (DSQ) .

DSQ will immediately start the complete supply, delivery, installation, testing and commissioning of the associated MEP package and will complete and hand over this prestigious project in November 2012.

"We have reinforced the management team in DSQ and upgraded our operational capabilities to meet the rising demand for the planned 2022 world cup associated infrastructure, commercial and residential developments .The construction sector is well developed across all industries, with a healthy level of competition for large contracts. We see a progressive increase in tendering activities and we expect to witness an increased impetus in project announcements in the market," said Khaldoun Tabari, CEO of DSI .

DSQ was established in 2006 and has undertaken a number of prestigious MEP projects in Qatar including the West Bay Complex "Four Seasons hotel" and the "QTEL headquarters".

On the sidelines of the international MEP summit at Oryx Rotona -Doha and commenting on the project win, Mark Andrews, the Managing Director of DSI -MEP stated, "The ongoing construction projects in Qatar are ensuring solid activity levels for firms in building material, construction and engineering sectors. The diverse experience of DSQ and its specialization in the MEP field will enable it to service all construction segments. "

"The huge influx of international contractors to the Qatari market stimulates strong competition and is raising the quality standards in the MEP industry .The resurgence of project financing and the availability of credit will eventually accelerate the life - cycle of infrastructure projects. We are constantly investing in the development of sustainable engineering techniques and technologies to deliver the best international quality standards", He concluded.

Since the Beginning of 2011 DSI has managed to secure a series of Civil , MEP and Water & Power projects in Oman, Egypt , Kuwait, Saudi Arabia, UAE , Asia and Europe for a combined value of AED 3.2 billion and its backlog stands at AED 7.5 billion as of March 31st 2011. The company remains bullish on its expectations for the second half of the year and is currently extensively bidding for projects in the MENA and Asian regions through its MEP, Civil and Water and Power divisions.

-Ends-

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 Mechanical Electrical and Plumbing (MEP), Civil Contracting, and Water & Power 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 Thailand, as well as managing projects in Europe and other parts of North Africa

DSI 's main business streams include Drake & Scull International , which serves as the MEP arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit and Drake and Scull Water & Power (DSWP), which focuses on the Water & Power and 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 compliment 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 are leaders through experience, and have established a regional leadership position over 44 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 have helped shape the region's skyline from within.

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© Press Release 2011