
DSI appointed for work on Abu Dhabi mixed use development and Dubai district cooling plants
Drake & Scull Engineering, a subsidiary of the UAEs Drake & Scull International (DSI) has been awarded two contracts in Dubai and Abu Dhabi.
The total value of the contracts is AED131m ($36m) for mechanical, electrical and plumbing (MEP) work on a mixed use tower development in Abu Dhabi and two district cooling plants in Dubai.
The first contract for the mixed-use development in Abu Dhabi will see the Dubai-listed firm supply and install the heating, ventilation and air conditioning (HVAC), building management, water supply and drainage systems. Work on the project has already started with an estimated handover scheduled for 2018, according to a company statement.
Meanwhile work on the two district cooling plants in Dubai will start in January with completion expected by the end of 2016.
Earlier this month DSI reported net losses of AED985m ($268m) for the third quarter of this year compared to a net profit of AED21.37m ($5.81m) for the same period in 2014.
DSI said its first quarterly loss of the year was mainly due to one-off provisions and revenue adjustments in the current challenging market conditions.
The company also said its revenue for the first nine months fell to AED2.83bn ($770m) from last years AED3.6bn ($979m).
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