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Tue 21 Dec 2010 03:04 PM

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DSI wins $92.6m contract for Abu Dhabi presidential palace

Dubai contractor says Abu Dhabi accounts for a quarter of its $1.36bn order book

DSI wins $92.6m contract for Abu Dhabi presidential palace
In December, DSI said it had won $817m in new contracts this year, up from $544m in 2009

Dubai-based contractor Drake & Scull International on Sunday said it won a AED340m (about $92.6m) contract to supply the presidential palace in Ras Al Akhdar, Abu Dhabi.

The deal will see DSI manage the mechanical, electrical and plumbing works on the palace over a three-year period, the company said. Work is scheduled to start immediately.

DSI has secured nine projects in Abu Dhabi since the start of the year, and the capital accounts for 25 percent of the company’s AED5.5bn ($1.36bn) backlog, as of September 30, 2010.

In December, DSI said it had won $817m in new contracts this year, up from $544m in 2009.

 “At the beginning of 2010, we set out to expand our business portfolio and estimated an end-of-year backlog of over AED5bn ($1.36bn),” said CEO Khaldoun Tabari. “As it stands now, the company’s backlog is a realisation of that.”

 

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