Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

DSI secures its second major KSA contract worth AED 460 million

2010-07-08

[Dubai, 7 July, 2010]  Drake & Scull International PJSC (DSI), a regional leader delivering integrated engineering capabilities, has been awarded an AED 460 million contract for the complete Mechanical, Electrical and Plumbing (MEP) works for the iconic Information Technology and Communications Centre (ITCC) project in Riyadh.

DSI will be undertaking this project in a joint-venture with Al Zamil Group, one of the largest conglomerates in the Kingdom of Saudi Arabia. The contract was awarded by Rayadah Investment Company, the investment arm of the Saudi government’s Public Pensions Agency (PPA). “The dynamics of the Saudi market are different from the other GCC markets in which we have been operating; we had to ensure that we adapted our practices to meet the strict requirements of the Kingdom’s construction industry, which can be very challenging,” said Khaldoun Tabari, DSI CEO, “Following the recent win of DAMAC Jawharah Tower for SR 450 million and now the ITCC project, we can proceed in the knowledge that our efforts in the Kingdom are starting to pay off and we are on the right track for further development within KSA.” ITCC is the Kingdom’s first “Smart City” which when completed will offer widespread broadband services, the latest in voice and video communication platforms and high-level data security and will operate on a huge optic-fibre cable network designed to give the fastest speeds and accommodate next generation technologies for years to come. The AED 6 billion overall project will span over an area of 776,000m² and will include four 20-storey towers, two business technology incubator buildings, a sports club, a clinic, a hotel, a convention centre, a technical college and government service buildings. MEP work on the project has already begun and will be completed in 24 months. This will include the supply, installation, testing and commissioning of: air conditioning, ventilation, plumbing and drainage, automatic fire fighting, transformers, cabling, small power & lighting systems, busbar risers, earthing & lightning protection, digital interactive TV system, CCTV and access control system. Along with the main contractors that are working on the project, DSI will work to achieve the basic Leadership in Energy and Environmental Design (LEED) certification through the use of grey water recycling, low energy lighting, low energy air conditioning and, most importantly, reduction in solar gain. “Winning the contract for the ITCC project has been a positive step for us on a number of levels,” Tabari continued, “First, it validates our position as one of the top MEP players in the construction industry in the Middle East; secondly, it facilitates our regional growth plans and third, it contributes to our growing backlog which will have a positive effect on our future revenue.” Also in line with the company’s growth strategy, DSI recently established Drake & Scull Construction KSA to manage and overlook all of its civil contracting activities in the Kingdom.  Earlier this week it was announced that DSC KSA was awarded its first project in Saudi Arabia, the SR 450 million Jawharah Tower in Jeddah. With a sound track record in the field of MEP contracting already underway, the formation of DSC KSA will allow DSI to demonstrate the integrated capacities of its business streams and form a stronger presence in the market.“We have already shown that DSI has both the capabilities and the resources to undertake projects of such a high caliber, which is reflected through our current position in the market,” concluded Tabari, “This latest contract win not only strengthens our portfolio and financial standing, but opens up future opportunities for the company as a whole to contribute to the development of major projects across the country, as planned by the government of Saudi Arabia”.

 


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013