Drake & Scull Construction Saudi Arabia (DSC KSA), a wholly owned subsidiary of Drake & Scull International (DSI) PJSC in the Kingdom, has been awarded King Abdullah Petroleum Studies and Research Center (KAPSARC) project in Riyadh, Saudi for a total value of US$533,290,000.
Commenting on the project win, Khaldoun Tabari, CEO of DSI said: “We are delighted to have been selected to execute such an iconic project in Saudi Arabia which substantiates our continuous effort to further expand and momentously grow in this promising country; We have been dedicating major resources into fortifying and streamlining the newly established entity in Saudi Arabia which has already secured a $120 million contract for Al Jawharah project in Jeddah, during the second quarter of 2010. ”
Developed by Saudi Aramco, The King Abdullah Petroleum Studies and Research Center (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.
In 2010 Drake & Scull International (DSI) PJSC had managed to secure a series of consecutive project wins in Saudi for a total value of $327 million 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,” Continued Tabari.
Drake & Scull International Saudi (DSC KSA) will commence works on the project immediately with a target completion date being August 2012.
DSI’s acquisition of a civil company in Saudi Arabia is on track and will be completed within the first quarter of 2011.
