Drake & Scull win Riyadh district cooling contract
AED290 million project expands DSI's footprint in Kingdom.
The utilities arm of Drake & Scull International has won an AED 290 million contract for a district cooling plant in Riyadh, Saudio Arabia.
The contract includes the design and build of the district cooling plant, which has a capacity of 35,000 tonnes. Drake & Scull Water and Power will also be responsible for the operation and maintenance of the project over ten years.
“This latest contract win is a step forward for Drake & Scull International in further establishing our presence within Saudi Arabia’s growing water and power industry,” said Khaldoun Tabari, CEO of DSI.
DSWP is a subsidiary of the Dubai-listed MEP giant, which this year has aggressively expanded into new markets, launched a contracting arm in the Kingdom – Drake & Scull Construction – and is currently looking to purchase two Saudi MEP companies. In June it claimed to have AED2 billion worth of contracts. It has offices throughout the Middle East.
Tawfiq Abu Soud, executive director of DSWP, said: “We are confident that our past technical and operational knowledge in the field, a strong portfolio of prominent projects which includes two of the world’s largest district cooling plants located in Dubai, and our understanding of the complex Saudi market dynamics will support us in achieving success in the Kingdom and the region as a whole."
DSI’s projects in Saudi Arabia contributed to 29% of the company’s total backlog, since September this year, including the backlog consolidation of recently acquired ‘Drake & Scull International Saudi’, although Tabari said the company aims to increase this to 50% by next year.
The design and build project is scheduled to start immediately and will take 18 months to complete.