In November, DSI reported net losses of AED985m for the third quarter of this year, compared with a profit of AED21.37m for the same period in 2014
Drake & Scull Engineering (DSE), a subsidiary of the local Drake & Skull International (DSI), has been awarded an AED121m ($33m) contract for a chilled water distribution network in Dubai.
The contract will see DSE design and install the chilled water distribution network for a mixed-use development in Dubai. DSE will also deliver all related civil works, with a scheduled completion date of 2018.
It is unclear which development DSE will install the network for.
The contract brings DSIs total contract awards so far this year to AED2.65bn, according to a company statement.
In November, DSE was awarded two contracts, with a combined value of AED131m, for mechanical, electrical and plumbing (MEP) work on a mixed-use tower development in Abu Dhabi and two district cooling plants in Dubai.
Also in November, DSI reported net losses of AED985m for the third quarter of this year, compared with a profit of AED21.37m for the same period in 2014. The first quarterly loss of the year was mainly due to one-off provisions and revenue adjustments in the current challenging market conditions, DSI said in a statement accompanying the financial results.
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