Drake & Scull International PJSC : DSI Awarded SAR 261 Million Project to Provide Turnkey MEP Solutions at the King Fahad Medical City in KSA

DSI - Habtoor Leighton Specon Joint Venture to undertake the complete MEP systems for the National Institute of Neurosciences, and the Cancer & Cardiac Centre at total value of SAR 522 Million

[UAE, June 24, 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 SAR 261 million project to provide turnkey MEP solutions for the National Institute of Neurosciences, and the Cancer & Cardiac Centers in King Fahad Medical City, Riyadh, KSA. DSI has signed a joint venture agreement with (Habtoor Leighton Specon) to undertake the MEP works for a total value of SAR 522 Million project of which DSI's share is 50%. The new development is considered to be the first hospital in the Gulf region to include a Proton Therapy Centre.

Spanning a total built-up area of 234,000 m², the project includes the National Institute of Neurosciences (11 Levels), Comprehensive Cancer Centre (11 Levels), Cardiac Centre (3 Levels), Laboratories and office building (7 Levels), Radiology Center, Cardiology Center, Underground Car Parks, Central Services Building (4 Levels) and a Services Tunnel (320 m Long). The facilities are part of the SAR 2.3 Billion King Fahad Medical City, the largest and most advanced medical complex in the Middle East with a total capacity of 1,095 beds.

Khaldoun Tabari, CEO of DSI, said: "The healthcare sector is very important to DSI and we are proud of our historic work in hospital projects around the world. The project award is a major milestone in our extensive healthcare experience in the kingdom. Our in-depth knowledge of critical healthcare systems combined with our comprehensive understanding of the specific requirements of the Saudi market make us well suited to undertake projects of similar scale and engineering complexities. We see the project award as further consolidation of our status as leaders in the KSA MEP sector. DSI will continue to proactively invest in specialized expertise and cutting-edge technologies to continue to support the development initiatives in KSA and across the region."

The new medical facility is part of DSI's growing portfolio of high-profile healthcare projects in KSA, which also includes a new healthcare facility in the eastern province of Damman as well as the Tabarjal Hospital, Mina Hospital and Health College. DSI has been a market leader in KSA with an impressive engineering history and track record for over 30 years and a substantial backlog making the Kingdom its leading market in the Gulf.

DSI continues to enhance and strengthen its services offering with unmatched vertical integration and global footprint. The collaborative capabilities of the Engineering services (MEP and Water and Power), General Contracting, Oil and Gas, Rail and Infrastructure development continue to deliver strong performance quality work on project sites. Armed with a multicultural workforce, inherent financial strength and solid regional experience, the company's outlook remains positive in terms of realising greater profitability and improving productivity across MENA, South Asia and Europe.

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About Drake & Scull InternationalPJSC

Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of Engineering (Mechanical Electrical and Plumbing (MEP) and Water & Power), General Contracting, Oil and Gas, Rail and Infrastructure, through People, Innovation, and Passion.

DSI established its first office in Abu Dhabi in 1966, and has since expanded operations to encompass offices in Dubai, Egypt, Kuwait, Libya, Oman, Saudi Arabia, Syria, Qatar, Jordan and India, Thailand, as well as managing projects in Europe and other parts of North Africa.

DSI 's main business streams include Drake & Scull Engineering, which serves as the MEP and Water & Power arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit and Drake and Scull Development, focusing on the Infrastructure sector.

In 2008, DSI offered 55% of its shares to the public and the IPO was oversubscribed 101 times. Ernst & Young ranked the IPO among the top 20 global IPOs in 2008.

DSI has since then used the funds to integrate, establish and acquire businesses that complement its corporate strategy of expansion into new markets, via organic and inorganic growth.

The fully Integrated Management Systems, certified to ISO 9001:2008, ISO 14001:2005 and OSHAS 18001:2007 standards are compliant with leading building, health and safety regulations, as well as sound environmental and energy management procedures.

DSI is a leader through experience, and has established a regional leadership position over 48 years of successfully completing the most complex projects on time, within budgets and matching set quality parameters.

DSI has completed many prestigious projects in the region for over four decades, and has helped shape the region's skyline from within.

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