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FINANCIAL NEWS
Drake & Scull Water and Power wins USD20.4m deal in Al Ain
13 Sep 2011
(MENAFN) Drake & Scull Water and Power, a subsidiary of Drake & Scull International (DSI), said that the company won a USD20.4 million infrastructure deal to build a sewerage project in Al Ain, reported Arabian Business.
The Dubai-based firm added that as a result of the global financial crisis that hit the construction sector in Dubai, DSI started to shift its focus on other markets like Algeria.
It also said that work in Al Ain project would start immediately and would be expected to complete by November of next year.
It is worth noting that in 2011’s first six months, DSI secured USD888 million in contracts and its net income in the second quarter rose 12 percent from the first quarter to USD13.8 million.
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