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FINANCIAL NEWS
Saudi Arabia awards $79m deal to DSI
01 Dec 2010
(MENAFN) Saudi Arabia has awarded a subsidiary of Dubai contractor, Drake & Scull International (DSI), a contract to build and operate a cooling plant valued at $79 million, in the Kingdom, Reuters reported.
The DSI�s subsidiary, Drake & Scull Water and Power (DSWP) will engineer, procure, construct and operate the district cooling plant in Riyadh which will have a capacity of 35,000 tons.
DSWP, which specializes in mechanical, engineering and plumbing businesses, is scheduled to complete the project within the upcoming 18 months.
As of September 2010, DSI’s projects in Saudi Arabia contributed to 29 percent of the company’s total backlog, including the backlog consolidation of recently acquired Drake & Scull International Saudi, and seeks to increase the figure to reach 50 percent by the year 2011.
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