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FINANCIAL NEWS
Dubai’s DSI secures a USD55m contract for Binary tower
07 May 2012
(MENAFN) Drake & Scull Construction (DSC)inked an USD54.44 million deal for the project of a tower in Dubai’s Business Bay, Arabian Business reported.
The unit of Dubai-based Drake & Scull international (DSI), will be the main contractor of the Binary tower, developed by Omniyat, a 25-story commercial tower on the waterfront in Dubai’s Business Bay.
Managing Director of DSC Saleh Muradweij said that the firm already begun breaking ground for the project, with an estimated completion date in early 2014.
The company won contracts USD354 million worth of contracts in the Middle East and North Africa region during the first quarter, the DSI said.
The contracts include a USD38 million deal to provide mechanical, electrical and plumbing (MEP) works for the Rocco Forte Hotel in Jeddah and a USD230 million unspecified contract in Algeria.
The company also won a USD27 million contract to provide an intake water system for a thermal power station in Orissa, India.
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