Company remains positive about growth in KSA project awards in 2014

KSA, February 05, 2014 -Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, has announced that it has been awarded SAR 328 million contract to execute complete MEP works at King Saud University in Riyadh, Kingdom of Saudi Arabia.

Under the terms of the agreement, DSI KSA will design, install, test and commission complete electro-mechanical works for three buildings at the university's Endowment Projects. The company also stated that work on the project will be completed by 2015.

Khaldoun Tabari, Drake & Scull International Vice-Chairman and CEO, said: "The King Saud University contract is highly prestigious for DSI and further consolidates our presence in Saudi Arabia as leaders in Engineering (MEP and Water & Power) as well as General Contracting. Our extensive history with large scale projects in KSA and our patented engineering technologies will prove vital in the execution of this project.

Saudi Arabia is DSI's biggest market in the region and we have achieved a track record of delivering high quality MEP services along with the best engineering and construction solutions. Our commitment towards sustainability, affordability and safety and our in-depth knowledge of the local conditions and challenges are the key to our success in the country. DSI has the expertise and capacity to undertake projects across all growth sectors. With increase government expenditures towards infrastructure development, we expect positive movement in all the sectors in the coming year and we will leverage our integrated engineering and construction services to undertake projects across all industries in the country."

DSI has delivered large-scale educational projects in KSA in the past, including the King Abdullah University of Science & Technology (KAUST) and the Information Technology Communications Complex (ITCC). Within the healthcare sector, the company has undertaken SAR 261 million MEP services for the National Institute of Neurosciences, and the Cancer & Cardiac Centres in the King Fahd Medical City, Riyadh and SAR 130 million project for a 400-bed hospital in Dammam.

DSI continues to enhance and strengthen its services offering with unmatched vertical integration and global footprint. The collaborative capabilities of the Engineering services (MEP and Water and Power), General Contracting, Oil and Gas, Rail and Infrastructure development continue to deliver strong performance quality work on project sites across MENA, South Asia, and Europe.

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 General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, 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 India, Thailand, as well as managing projects in Europe and other parts of North Africa.

DSI 's main business streams include Drake & Scull Engineering, which serves as the MEP and Water & Power arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit and Drake and Scull Development, focusing on the  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 complement 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 is a leader through experience, and has established a regional leadership position over 48 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 has helped shape the region's skyline from within.

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© Press Release 2014