Drake & Scull wins 2b Saudi riyal petroleum research centre project

Dubai: Drake & Scull Construction Saudi Arabia (DSC KSA), a wholly owned subsidiary of Drake & Scull International (DSI) PJSC in the Kingdom, yesterday said, it has been awarded King Abdullah Petroleum Studies and Research Center (KAPSARC) project in Riyadh, Saudi for a total value of Saudi riyal 2 billion (Dh1.9 billion).

Developed by Saudi Aramco, The King Abdullah Petroleum Studies and Research Centre (KAPSARC) is a future-oriented research and policy centre committed to energy and environmental exploration and analysis. The project is headquartered in an iconic complex near King Khalid International Airport designed by world-renowned architect Zaha Hadid, and is composed of a network of three-dimensional, six-sided cells with many junctions and bonds.

Khaldoun Tabari, CEO of DSI said: "We have been dedicating major resources into fortifying and streamlining the newly established entity in Saudi Arabia which has already secured a Saudi riyal 450 million contract for Al Jawharah project in Jeddah, during the second quarter of 2010."

In 2010 DSI had managed to secure a series of consecutive project wins in Saudi for a total value of Dh1.2 billion in the Mechanical, Electrical and Plumbing sector, Civil and Water and Power sector.

"Our commitment to increase the contribution of DSI projects in Saudi is materializing and we expect the kingdom to continue to be our largest market in the region in 2011.

The KAPSARC project win is a historical milestone for DSI in Saudi Arabia. The alignment of the company with Saudi Aramco will expand the horizons of our operations in the country across all our business streams and will anchor our presence in this promising market," added Tabari.

• 450m: Saudi riyals contract for project in Jeddah
• Dh1.2b: DSI won projects in Saudi Arabia