Dubai-based contractor Drake & Scull International said it has secured contracts worth Dh376 million ($102.3m) to build several projects in India, Tunisia and Palestine.
The contracts awarded are to build waste water treatment projects and oil and gas pipeline extensions, the company said.
"We continue to build our footprint – not just in the region but also in key international markets," Shafiq Abdelhamid, chairman of DSI, said.
"This will drive the growth of our company in the coming months, as we successfully navigate the impact of the pandemic and focus on creating value for our stakeholders.”
The contractor signed a Dh178m deal with a French company to build a waste water treatment plant in south Méliane in Tunisia and another Dh34m deal to build one in India.
Drake and Scull also said it completed work on a Dh76m waste water treatment plant and the Tubas / Al Tayaseer treatment station for Dh88m in West Bank, Palestine.
The company, which is looking to strengthen its operations in core markets, said it is bidding for projects worth Dh1.75 billion in Iraq and Kuwait.
New projects are a key part of Drake and Scull's turnaround strategy, which saw the company return to profitability in 2020 after enduring several years of losses. The contractor reported a net profit to shareholders of Dh109m in 2020, compared to a net loss of Dh87m in the prior year, it said in a statement in February.
Profit from continuing operations, however, fell 45 per cent to Dh128m as revenue declined 68 per cent to Dh216m.
Drake and Scull also said its restructuring process is at an advanced stage. The company has been in talks with lenders about a capital reorganisation, as its liabilities outweighed its assets by about Dh3.9bn as of the end of last year.
if you go
The flights
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
The biog
Job: Fitness entrepreneur, body-builder and trainer
Favourite superhero: Batman
Favourite quote: We must become the change we want to see, by Mahatma Gandhi.
Favourite car: Lamborghini
The specs: 2019 Lincoln MKC
Price, base / as tested: Dh169,995 / Dh192,045
Engine: Turbocharged, 2.0-litre, in-line four-cylinder
Transmission: Six-speed automatic
Power: 253hp @ 5,500rpm
Torque: 389Nm @ 2,500rpm
Fuel economy, combined: 10.7L / 100km
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
