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DSI inks contracts worth Dh376m; eyes Dh1.75b projects

Issac John /Dubai
issacjohn@khaleejtimes.com Filed on April 27, 2021
The Dubai-based construction giant has been involved in lengthy financial restructuring and cost cutting

Construction major Drake & Scull International (DSI) said on Tuesday that it won contracts worth Dh376 million in Tunisia, India and Palestine.

The company said it was also bidding for several projects worth more than Dh1.75 billion in Iraq and Kuwait.

“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,” Shafiq Abdelhamid, chairman of DSI, said in a stock exchange filing.

DSI’s new projects include a wastewater treatment plant in south Méliane in Tunisia worth Dh178 million and a Dh34 million contract to build a wastewater treatment plant in India.

The Dubai-based construction giant, which was hit hard by the regional construction downturn, has been involved in lengthy financial restructuring and cost cutting. It said it hoped to boost business at home as well as in a number of key export markets such as Egypt, Algeria, Tunisia, Palestine, India, Kuwait, Iraq, and Germany.

"The 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,” said Abdelhamid.

DSI completed a Dh76 million wastewater treatment plant in the West Bank. The scope of work includes 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 Dh88 million.

“Building on its track-record of quality and timely delivery, despite the challenges of the pandemic, DSI is bidding for a Dh260 million project in Kuwait and for projects valued at Dh1.49 billion in Iraq,” said the company.

issacjohn@khaleejtimes.com

author

Issac John

Editorial Director of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.





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