DSC tendering work worth Dh6bn in UAE, Saudi Arabia
Drake and Scull Construction (DSC) is currently tendering for more than Dh6 billion worth of work in the UAE and Saudi Arabia, according to a senior official.
It is also finalising a new company called DSC Saudi and within this, it will establish a division that offers infrastructure and bridge works, he told Emirates Business.
"We are currently tendering more than SR3 billion (Dh2.9bn) worth of work with Saudi Aramco and other private developers in Saudi Arabia," said Saleh Muradweij, DSC Executive Director. DSC is the newly-established, regional civil contracting arm of DSI, set up to manage and control civil contracting operations of its subsidiaries Gulf Technical Construction Company (GTCC) in Dubai and Abu Dhabi as well as drive civil construction business development efforts outside the UAE. DSC will also oversee operations of future civil projects and acquisitions that will play a role in expansion plans for DSI.
Last month, CEO of DSI told this newspaper that Drake & Scull Construction, will be registered in Dubai with a fully-owned subsidiary in Saudi Arabia. "We wanted to house a holding group and it will own 80 per cent of Gulf Technical Construction Company in Dubai (GTCC), Drake's civil contracting subsidiary and branches," said Khaldoun Tabari, Vice-Chairman and CEO of DSI. "The new entity will be the official arm of Drake & Scull Civil division in all regions outside the UAE." The current backlog of work at DSI is Dh3.3bn.
"We are also entering a joint venture with a major partner in Saudi Arabia," said Muradweij. "In Abu Dhabi we have tendered for many major projects and partnered with international contractors. We are currently tendering for around Dh3bn in Abu Dhabi in mixed and expect to hear good news very soon. While GTCC now comes under DSC and will concentrate on work in the UAE, as DSC, we are now looking at projects in Oman and Egypt. We expect to announce some major wins in Saudi Arabia by the second quarter of this year."
He sees great potential in Saudi Arabia. "In the UAE, we were mainly identified as an MEP company. But outside the UAE, we are now being identified as a general contractor with capabilities for all disciplines within our business teams. We have been invited to selective and high profile projects," he said.
"Saudi Arabia is simplifying procedures and have relaxed the rules where people from the UAE can stamp their visas from the embassy here instead of going back to their home countries. They recognise there is a lot of good staff from the UAE and that helps in quick mobilisation of people.
Last week, GTCC was awarded two contracts valued at Dh484m by Damac Properties in Dubai.
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