DSI close to clinching deal in Libya

Drake & Scull International PJSC (DSI) is hoping to clinch its first contract in Libya within a month, according to media reports.

Earlier this year it was reported that DSI was keen on establishing a foothold in Libya, marking its second venture in Africa. Executive director Tawfiq Abu Soud said at the time that “the prospects there are good, as they need infrastructure – power, water, utilities.”

With a population of five million and the biggest oil reserves in Africa, Libya is embarking on an ambitious US$126.5bn five-year infrastructure redevelopment plan to modernise water and sanitation facilities and build airports, schools and houses, for example.

DSI is currently bidding for contracts worth some US$190.6 million in the Gulf. It is believed to have a project backlog worth $790 million, most of which lies outside the UAE.