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Drake & Scull International (DSI) PJSC, has won a clutch of contracts across building and recreation in Kuwait worth a combined $42.19m (AED 155m).
The MEP contractor, which also has services across civil engineering, infrastructure and utilities, will be in charge of the commissioning and execution off all associated works for governmental buildings facility, a sports complex, a mosque and a printing press establishment.
The Dubai-based company has been expanding aggressively in terms of service offering and geographical coverage across the Gulf. It is now 17 months since it fully acquired its subsidiary in Kuwait, a move closely followed by the purchase of Drake & Scull Qatar. The company has since developed into Syria and Oman.
Kuwait’s private sector is primed to play the lead role in developing the US$7bn Kuwait urban metro, electricity generation projects, the US$3bn tourism development at Failaka Island and redevelopment of Kuwait airport, according to the Kuwait Infrastructure Report.
Last year the Kuwaiti government set aside budget for construction and maintenance projects that was around two-thirds higher than that of 2009-2010, from $4.6bn (KD1.265bn) to $7.9bn (KD 2.1bn).
It is anticipated that the country’s construction sector will experience stable average real growth of 2.36% over the duration of the 2010-2014 forecast period.
“We expect a steady and gradual growth for DSI in Kuwait,” said Khaldoun Tabari, CEO of DSI. “Since the acquisition of DSK in December 2009, we are exposed to the latest construction developments in the country and we are actively indentifying opportunities that best fits our service portfolio. ”
“Education and healthcare are currently the major thrust of government expenditure, our reputable experience, technical expertise and management speciality in these industries will allow us to qualify for substantial projects in educational and healthcare building programmes.”
Mark Andrews, MEP managing director, added that the MEP sector is evolving in the country and that the country is “seeking to engage key members of its supply chain in the design process where their contribution creates value”.
Drake & Scull International shares closed down 0.2% at 99 fils.
