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DSI bags first project of 2011

Dh160 million-contract awarded for a government project in Oman

| | Feb 3, 2011 | 5:19 pm
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Dh160 million-contract awarded for a government project in Oman

Drake & Scull International (DSI) PJSC has announced that it has been awarded its first contract of the year for a project worth Dh160 million in Oman. DSI will be responsible for the complete MEP works, including the design, supply, installation, testing and commissioning for the government project.

The company’s current backlog stands at Dh 5.5 billion as of September 2010. However, the company managed to secure additional contracts worth Dh800 million in the last quarter of 2010, DSI added.

Speaking of the company’s recent contract win, Khaldoun Tabari, DSI CEO, said, “We are pleased to begin the year on a positive note with this major project win, which demonstrates that the investments made over the last year have significantly solidified our presence in the region.”

According to DSI, it implemented an intensive expansion strategy over the last two years, during which, the company entered into new markets that included Kuwait, Qatar, Saudi Arabia, Egypt, Jordan, Syria, Oman and Libya.

In this context, outlining the company’s plans, Tabari concluded, “The future outlook for DSI is promising, as we look to venture into new geographical markets such as Iraq, India and North Africa, and consider entering into sectors such as Oil & Gas, which complement our existing portfolio.”

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