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FINANCIAL NEWS
DSI wins $125m contract in Riyadh
08 Jul 2010
(MENAFN) Dubai-based Drake & Scull International said that it has won a $125.3 million contract in Riyadh, its second win in Saudi Arabia this week, as it taps huge demand for infrastructure and property there, Gulf News reported.
The contractor will be working in partnership with Saudi conglomerate Al Zamil Group on mechanical, engineering and plumbing (MEP) works for the Information Technology and Communications Centre (ITCC) in Riyadh, it said in a statement.
With a growing population of over 25 million, 70 per cent of which is under the age of 30, the world’s largest oil exporter will need to build one million new homes by 2014, HSBC said in a report last year.
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