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FINANCIAL NEWS
DSI unit wins USD83.5m contract for Qatar project
19 Feb 2013
(MENAFN) Dubai-based contractor Drake & Scull International (DSI) said that its Qatar unit has won USD83.5 million contract for a mixed use development project in Doha, Arabian Business reported.
The contract involves substructure and superstructure works within a 260,000 sqm built-up area, including three superblocks, housing, residential buildings, schools, utilities, offices and retail buildings, DSI said in a regulatory filing.
Karem Akawi, Drake & Scull Qatar’s manager said “Our integrated EPC solutions and particularly the MEP and the water and power are vital factors that will strengthen our presence in Qatar, which we expect to develop into a long-term market on par with other regional powerhouse markets such as KSA and the UAEâ€.
Earlier this month, DSI reported USD34.8 million annual profit for 2012, backed by strong revenue from its operations in Qatar and Saudi Arabia, in addition to the launch of its gas and rail divisions.
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