The executive director of infrastructure, water and power (IWP) at Drake and Scull International has revealed the greatest challenge to utilities projects in the Middle East is ensuring that funding is available.
“Because we are not a utility provider, we have to work with utility providers. In projects with the government, there is no problem with the finance because payment is guaranteed,” said Tawfiq Abu Soud.
“However, with the utility providers we have to ensure that the funding for the projects is available.”
Abu Soud also revealed that the firm is currently bidding on three power projects that have “prime power generation on-site, ranging between 40-50MW”.
Drake and Scull recently won an US$162.625 million contract to design and build a 65,000 tonnes district cooling plant in Durrat Al Bahrain. The announcement was made on the same day as the firm listed on Dubai Financial Market.
