Dubai, UAE: Drake & Scull International PJSC (DSI), a market leader in electromechanical, integrated design, engineering, and construction, for water, power and oil and gas sectors, has won contracts of over AED 376 million and strengthened its international footprint with big wins in Tunisia, India and Palestine. The company is also bidding for several projects, valued at over AED1.75 billion in Iraq and Kuwait, which will add to its financial fundamentals and operational excellence.
Strengthening its business in the wastewater purification and pipeline extension sector, DSI’s growth is fueled by the robust performance of its subsidiary, Passavant Energy & Environment.
Eng. Shafiq Abdelhamid, Chairman of DSI, said: "Our new contracts and the successful completion of several projects underline our competencies to deliver world-class EPC and MEP works for complex projects in the power, water and oil and gas sectors. Drawing on our years of experience and led by expert professionals, we continue to build our footprint – not just in the region but also in key international markets. This will drive the growth of our company in the coming months, as we successfully navigate the impact of the pandemic and focus on creating value for our stakeholders.”
During the past few months, the Company was able to sign several new contracts, including Wastewater Purification projects and Oil and Gas pipeline extension projects. At the same time, the Company is currently working on several other international projects and is on target to deliver them on time and in budget.”
In key projects, DSI has commenced work for a wastewater treatment plant in south Méliane in Tunisia. The contract, worth AED 178 million, was signed with a French company. In another key win, DSI won a contract valued at AED 34 million to build a wastewater treatment plant in India.
Delivering on its projects, DSI completed an AED76 million wastewater treatment plant in West Bank, Palestine, with the scope of work including engineering, procurement, construction, operation and maintenance, as well as overseeing the training and qualifying employees for a year post-completion. In March 2021, the company also completed the Tubas / Al Tayaseer station in the West Bank worth AED 88 million. Building on its track-record of quality and timely delivery, despite the challenges of the pandemic, DSI is bidding for an AED260 million project in Kuwait and for projects valued at AED1.49 billion in Iraq.
Eng. Abdelhamid said the focus of the company is to deliver its projects as per schedule and to achieve high levels of operational efficiency and productivity. “Through our rigorous focus on timely implementation, we have gained the confidence of investors, and are strengthening our pipeline of projects. There has been a renewed emphasis on enhancing our operational efficiencies, reducing operating costs, and reorganising the operations to deliver our post-restructuring five-year business plan.”
With its accelerated pace of project wins and completion, DSI looks to expand its operations in the UAE as well as build its presence further in core markets such as Egypt, Algeria, Tunisia, Palestine, India, Kuwait, Iraq, and Germany.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.