Algeria has awarded DUBAI’s leading contractor Drake & Scull a $230 million contract for infrastructure development in the country.
This is the first contract won by Dubai’s contractor Drake & Scull in the north African country and this clearly show that they have now shifted its focus to other regional markets after a slowdown in the United Arab Emirates’ property sector.
According to a statement given by the company the contract was awarded to the civil contracting arm of Drake and without further details on the specific projects that they will carry out in the Northern Africa country.
The company recorded higher net profit in its fourth quarter after being awarded projects worth 4.4 billion in 2011 that’s when compared to its previous financial year 2010 and they specialize in engineering and plumbing.
The company has the top project records in the region and it has grown its momentum time by time and this has made it scope more business out of Dubai.
Apart from the contract they signed in Algeria the company also signed US$96-million deal in December to build a commercial development project in Riyadh.
The company has also signed a large project in North African country worth $39-million in Egypt that will see them work on an ammonium nitrate plant in Ain Sokhna that raised its profile in Africa.
The company is well known in General Contracting in various fields including engineering, Railway Oil and Gas exploration, Infrastructure development and Water and Wastewater treatment. Of which currently Algeria needs most.