2013-12-29 09:15:15 - Company wins USD16 million MEP contract for four luxury towers in Mumbai
[India, December 29, 2013] - Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas, has been awarded a USD 16 million contract to provide turnkey MEP solutions in the New Cuffe Parade project in Mumbai, India. The win reflects DSI’s aggressive expansion drive across India.
Under the terms of its agreement with the Lodha Group, a premier real estate developer, DSI will perform MEP works for four towers in the development spread across 23 acres of area located in the new Mumbai Metroplolitan Region Development Area (MMRDA) near the IMAX Dome Wadala, , near South Mumbai.
The New Cuffe Parade project is the latest in a series of infrastructure deals signed by the company in India. It is a key addition to DSI’s portfolio of projects in India aligned with its strategic growth plans in the country.
Khaldoun Tabari, CEO of Drake & Scull International PJSC (DSI), said: “We are achieving significant progress with our expansion drive in India where the government has launched widespread initiatives to speed up private investment in infrastructure sector through Public Private Partnerships (PPPs). DSI is well-positioned to provide expertise, technologies and resources especially in Hospitality, Aviation, Railways, Urban Infrastructure and Housing, Thermal and Renewable Energy and Water and Wastewater sectors via our Water & Power and MEP business units”
“India is familiar territory for DSI as we have already delivered a USD 25 million thermal power project in Orissa and a solar power project in Tamil Nadu. We are currently working on two major projects including a Coal Power project and the World Crest,( one of the tallest towers in India) collectively worth USD 67 million. The new contract with the Lodha Group further strengthens our market position as we consolidate our stronghold in the subcontinent. We expect to secure more project wins from India in 2014 and hope it becomes one of our major markets in the near future.” concluded Tabari.
The Indian government has implemented a series of measures to accommodate and accelerate private investments through PPPs. In August 2013, the government approved 36 projects in the energy, power and infrastructure sectors worth USD 27.8 billion. With an announced USD 154 billion worth of infrastructure projects to be funded via PPPs along with DSI’s proven track record in India, the company is poised to win more projects and firmly establish its presence in the country.