Drake & Scull inks US$38m Saudi contract

Drake & Scull International (DSI) has signed a US$38m contract to provide turnkey mechanical electrical and plumbing (MEP) services in Saudi Arabia, its largest market. The Dubai-based contractor will undertake the work at the Assila Towers project, in Jeddah, which is a five-star hotel and serviced apartments development that will be operated by Rocco Forte Hotels. DSI will start working on the site shortly, according to a statement posted on the Dubai bourse website, and work is expected to be complete by June 2013. The main contractor on the site is Al Saad General Contracting. “We expect commercial development to achieve an accelerated growth pace in Jeddah, being the largest sea port on the Red Sea and the most cosmopolitan of all Saudi Arabian cities,” said DSI CEO Khaldoun Tabari. “This will in turn drive the growth of construction activities and subsequently increase demand for integrated design, engineering and other specialised construction services.” Earlier this month, DSI picked up a US$27m deal to set up an intake water system for a power plant in Orissa, India. The firm also secured a US$230m civil contracting project win in Algeria last week.