Company says move fulfils strategic objective to increase presence in the region
Drake & Scull International PJSC (DSI) has recently announced the establishment of its newest subsidiary, Drake & Scull International Oman (DSO), specialising in Mechanical, Electrical and Plumbing (MEP) contracting. The move, DSI claims, will not only allow the company to further strengthen its presence across the Middle East and North Africa but will also result in a greater flexibility to diversify its operations and backlog.
“Our focus over the last year has been to expand our business geographically and vertically, and the decision to diversify into Oman follows this very philosophy,” said Khaldoun Tabari, CEO of DSI. “In today’s challenging global economic environment, a well-planned expansion strategy can help us reduce costs, gain access to new markets and talent pools, and most importantly, can provide a healthy pipeline to fuel our company’s growth and shareholders’ return,” Tabari elaborated.
“The value of projects in Oman that are set to go ahead in 2010 – at the prequalification, bid or engineering, procurement and construction stage – are estimated at $22 billion, highlighting the wealth of potential that the country has to offer,” concluded Tabari.
According to DSI, since the formation of DSO, the company has already been awarded its first contracts for two government projects, worth a combined value of Dh44.2 million (OMR 4.6 million). DSO will undertake the complete MEP works for the Sohar Court Complex (SCC) located in Sohar and the Oman National Museum (ONM), located at the footsteps of the Hajar Mountains in Muscat.
DSO will begin work immediately on SCC, which will include six court halls, staff and judges’ offices, a cafeteria, guard house and an external plant room, and is estimated to be completed within 13 months. DSI reports that the company will simultaneously commence with the ONM project, which upon completion, will display over 6,000 years of the country’s history and culture, and will feature 10 galleries, classrooms and studios and an indoor café. The ONM project completion handover date is slated to be September 27, 2011 and the museum is scheduled to open to the public on November 11, 2011. DSI has earlier worked with the Oman government on the development of the Sultan Qaboos Grand Mosque.