Ahead of its first day of listing on the Dubai Financial Market (DFM), Drake & Scull International PJSC (DSI) announces that it has been awarded its largest IWP (Infrastructure, Water & Power) project to date a 65 tonne district cooling plant in Durrat Al Bahrain.
Valued at a total AED 596 million DSI is to design and build the entire district cooling scheme to serve Durrat Al Bahrain.
The scheme comprises two plants, the first of which will hold 65 tonnes of refrigeration and is DSIs largest Infrastructure, Water and Power (IWP) project to date. The scope of the project also includes reticulation pipe work, an energy transfer station and all metering systems.
DSI Executive Director of IWP, Tawfiq Abu Soud, said that the announcement of this project, which coincides ahead of its DFM listing date, reinforces DSI market leadership in IWP projects across the region and supports the financial strength DSI is currently experiencing.
We have big plans for the future following todays listing and project announcement, he said. We are already working on over 35 projects, worth in excess of AED 5 billion, across Dubai, Abu Dhabi and the greater MENA region. As both time and our shares begin to mature, we will continue to expand and launch new projects.
Beginning in September 2009, the project will take five years to complete and will serve the entire Durrat Al Bahrain community.