Wednesday, Jul 27, 2011
DUBAI (Zawya Dow Jones)--Dubai-based Drake & Scull International, or DSI, said Wednesday it's Abu Dhabi subsidiary has been awarded a 170 million U.A.E. million ($46.3 million) contract for the complete mechanical, electrical and plumbing, or MEP, work for a women and children's hospital based in the U.A.E. capital.
DSI, in an emailed statement, said it will start pre-commencement MEP work on Danat Al Emarat Women & Children's Hospital immediately and expects to hand over the project in November 2012.
DSI Chief Executive Officer Khaldoun Tabari said the company has now successfully secured AED3.4 billion worth of work since the beginning of the year.
"We started 3Q with this prominent project win in the emirate of Abu Dhabi, the second-largest contributor to our backlog and a competitive and dynamic market where DSI first operated in the region," he added.
DSI said it's upbeat about the second half of the year and is currently extensively bidding for projects in the Middle East-North Africa and Asian regions through its MEP, civil and water and power divisions, and is also proactively seeking to develop its integrated service offering and to diversify into various industry sectors in emerging markets.
Drake & Scull shares closed Wednesday 0.6% lower at AED0.938 in a negative overall market.
-By Tim Falconer, Dow Jones Newswires; +9714 446-1690; tim.falconer@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
27-07-11 1033GMT
