Drake & Scull close to signing three new projects

Drake & Scull close to signing three new projects
Two of the projects will be located in the UAE.
Published: 19 June 2017 - 4:53 a.m.
By: Jumana Abdel-Razzaq

Dubai-based Drake & Scull International (DSI) is close to signing three new projects, according to the company’s CEO Wael Allan.

Allan said two of the projects will be located in the UAE and will be within the mechanical, electrical and plumbing sector, according to Reuters.

The other will be a “higher margin” wastewater treatment project within the industrial sector, he added.

The report also mentioned that the three projects were in the final stages of negotiations, though no further details were given.

DSI announced on Sunday that it has undertaken a capital restructuring exercise in order to take the business forward, focussing more on its core business of MEP projects rather than general contracting.

Allan said that the company concluded a series of key management appointments, announcing the appointment of Feras Kalthoum as acting chief financial officer last week.

 

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