Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

DrakeScull International eyes strategic growth in India in 2014  Join our daily free Newsletter

MENAFN Press - 29/12/2013

No. of Ratings : 0
Add to Mixx!


(MENAFN Press) Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, has been awarded a USD 16 million contract to provide turnkey MEP solutions in the New Cuffe Parade project in Mumbai, India. The win reflects DSI's aggressive expansion drive across India.

Under the terms of its agreement with the Lodha Group, a premier real estate developer, DSI will perform MEP works for four towers in the development spread across 23 acres of area located in the new Mumbai Metroplolitan Region Development Area (MMRDA) near the IMAX Dome Wadala, , near South Mumbai.

The New Cuffe Parade project is the latest in a series of infrastructure deals signed by the company in India. It is a key addition to DSI's portfolio of projects in India aligned with its strategic growth plans in the country.

Khaldoun Tabari, CEO of Drake & Scull International PJSC (DSI), said: "We are achieving significant progress with our expansion drive in India where the government has launched widespread initiatives to speed up private investment in infrastructure sector through Public Private Partnerships (PPPs). DSI is well-positioned to provide expertise, technologies and resources especially in Hospitality, Aviation, Railways, Urban Infrastructure and Housing, Thermal and Renewable Energy and Water and Wastewater sectors via our Water & Power and MEP business units"

"India is familiar territory for DSI as we have already delivered a USD 25 million thermal power project in Orissa and a solar power project in Tamil Nadu. We are currently working on two major projects including a Coal Power project and the World Crest,( one of the tallest towers in India) collectively worth USD 67 million. The new contract with the Lodha Group further strengthens our market position as we consolidate our stronghold in the subcontinent. We expect to secure more project wins from India in 2014 and hope it becomes one of our major markets in the near future." concluded Tabari.

The Indian government has implemented a series of measures to accommodate and accelerate private investments through PPPs. In August 2013, the government approved 36 projects in the energy, power and infrastructure sectors worth USD 27.8 billion. With an announced USD 154 billion worth of infrastructure projects to be funded via PPPs along with DSI's proven track record in India, the company is poised to win more projects and firmly establish its presence in the country.

About Drake & Scull International PJSC
Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, through People, Innovation, and Passion.DSI established its first office in Abu Dhabi in 1966, and has since expanded operations to encompass offices in Dubai, Egypt, Kuwait, Libya, Oman, Saudi Arabia, Syria, Qatar, Jordan and India, Thailand, as well as managing projects in Europe and other parts of North Africa.DSI 's main business streams include Drake & Scull Engineering, which serves as the MEP and Water & Power arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit and Drake and Scull Development, focusing on the Infrastructure sector.In 2008, DSI offered 55% of its shares to the public and the IPO was oversubscribed 101 times. Ernst & Young ranked the IPO among the top 20 global IPOs in 2008. DSI has since then used the funds to integrate, establish and acquire businesses that complement its corporate strategy of expansion into new markets, via organic and inorganic growth.The fully Integrated Management Systems, certified to ISO 9001:2008, ISO 14001:2005 and OSHAS 18001:2007 standards are compliant with leading building, health and safety regulations, as well as sound environmental and energy management procedures.DSI is a leader through experience, and has established a regional leadership position over 48 years of successfully completing the most complex projects on time, within budgets and matching set quality parameters.DSI has completed many prestigious projects in the region for over four decades, and has helped shape the region's skyline from within.


  MENA News Headlines




Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help