UAE's Drake & Scull wins $533 mln Saudi contract

UAE contractor Drake & Scull International (DSI) said its Saudi unit won a 2 billion riyal contract ($533.3 million) for a project in Riyadh as the company seeks to expand in the Kingdom.

The company won the contract from Saudi Aramco to build the King Abdullah Petroleum Studies & Research Centre in the capital Riyadh, a company statement said.
 
"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," CEO Khaldoun Tabari said in the statement.

The acquisition of a civil company in Saudi Arabia is on track and will be completed within the first quarter of 2011, he said.

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