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Drake and Scull signs $87.46mn Saudi MEP deal
on Feb 5, 2014
Dubai's Drake and Scull has won an $87.46mn (SAR 328mn) contract to carry out mechanical, electrical and plumbing works at King Saud University in Riyadh.
In a bourse statement the company revealed the deal will see them design, install, test and commission complete electro-mechanical works for three buildings at the university's endowment projects. It said work on the development will be completed by 2015.
The news comes just days after Drake & Scull Qatar (DSI Qatar) won a contract worth 400mn riyals ($110mn) for mechanical, electrical and plumbing (MEP) work at the Mall of Qatar, which is now under construction near Doha.
Drake & Scull Qatar (DSI Qatar) has won a contract worth 400m riyals ($110m) for mechanical, electrical and plumbing (MEP) work at the Mall of Qatar, which is now under construction near Doha.
Under the terms of the agreement, DSI Qatar will install all electromechanical works on the three-storey mall which will feature a hypermarket, a multiplex, five department stores and at least 20 restaurants. In addition to the car parking accommodating 7000 cars, the mall will also have its own metro station.
Karem Akawi, area general manager, Drake & Scull Qatar, said: “The Mall of Qatar is a very prestigious project award for DSI and will build upon the rich experience we have in mega retail projects.
“Our engineering expertise is one of the central pillars of our success and will continue to be a vital factor for driving growth in Qatar during the crucial years leading up to the World Cup.
We anticipate positive development in the rail sector as we have cemented strategic alliances with leading international rail experts to address the challenges and needs of Qatar Rail."
“We also see untapped potential in the water and waste water sectors and we are well placed to leverage our patented European technology through our German subsidiary Passavant Roediger to lead the modernization of Qatar’s infrastructure.”
Work on the project is scheduled to start in the first quarter of next year and is slated for completion in June 2015. UrbanCon Trading and Development are the main contractors on this commercial development.
Earlier this year, Drake & Scull Qatar was awarded a QAR 304m ($84m) contract for a mixed-use real estate development project in Doha and a second residential project worth QAR 180m ($49m).
DSI Qatar has also been associated with several prestigious projects since the early 2006 such as the Four Seasons Hotel, the Qtel Tower and the Doha Land project and has a healthy backlog and a history of consistent profitability.
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