Press Releases

Year

Quarter

29-03-2018 DSI announces the appointment of Group Chief Executive Officer

 

 

[Dubai, UAE – March 29 2018] – The Board of Directors of Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services, announced the appointment of Dr. Fadi Feghali as the Group Chief Executive Officer, with effect from 1st of April 2018. Dr. Fadi currently manages DSI’s international business units since joining the company in October 2017, and he will be overseeing all aspects of strategy and business implementation for the global DSI Group of companies in his new role.

 

Dr. Fadi is widely renowned as an EPC industry veteran in the region and currently manages DSI’s global subsidiaries and operations. Dr. Fadi previously served as the Managing Director of Al Husam Group.  He holds a Bachelors and Masters in Civil Engineering from Free University of Brussels, as well as a PhD in Civil Engineering from Heriot Watt University, UK. Dr. Fadi has over 30 years of experience in the management and development of multinational companies and mega projects, with expertise in environmental engineering across a broad spectrum of different sectors ranging from energy, utility, infrastructure to oil & gas.

 

Commenting on the appointment, Engr. Abdulla Atatreh, Chairman of DSI PJSC stated: “We are pleased to have Dr. Fadi Feghali as the Group Chief Executive Officer for DSI. He is an esteemed expert in the EPC sector and has a stellar track record of leading the operations for complex and largescale engineering projects in the region. 

 

We believe that our comprehensive organizational overhaul and structural reforms have reached a significant milestone with the appointment of Dr. Fadi Feghali, who worked closely with the Board of Directors and the new management team that was appointed in October 2017 and played an important role in our rigorous assessment of DSI’s global businesses and their challenges. 

 

His performance driven vision, global experience, and business acumen will prove vital for DSI and we are confident that under his leadership, the company will tap into its vast potential of historic legacy and regional presence and leverage them to create a sustainable pipeline of growth-oriented outcomes.”   

 

Dr. Fadi said: “I thank DSI’s Board of Directors and the global management team for entrusting me with the honor of leading the DSI Group as the Group CEO.  DSI PJSC is a dynamic organization with a rich history that spans more than 135 years across Europe, MENA, and Asia, with an unmatched legacy of values, excellence, innovation, and a work ethic that remains second to none. In our five decades in the region, we have constantly evolved to meet the demands of an ever-changing business environment.  I am enthusiastic about the opportunities to build upon our base of engineering skills, global experience, and the region’s most talented and motivated workforce, as we aim to deliver improved results and generate value for our investors and partners.”




11-03-2018 DSI Subsidiary Passavant Energy & Environment secures AED 110 Million Wastewater project

Passavant to collaborate with Ludwig Pfeiffer GmbH &co KG to execute rehabilitation of treatment plants in Europe

 

Dubai, UAE – March 11, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services, announces that its German subsidiary, Passavant Energy & Environment (PE&E), has secured a AED 110 Million contract to undertake the rehabilitation works for a wastewater treatment plant (WWTP) and new sludge treatment facilities in Moldova’s capital city Chisinau.

 

PE&E has entered into a consortium relationship with Ludwig Pfeiffer GmbH & co KG, an esteemed and privately-owned construction contractor in Europe, to deliver PE&E’s patented innovations and technologies to address the challenges posed by the complex rehabilitation works. Passavant’s share of the project amounts to 50% of the total project contract value.

 

Fares Khatib, Chief Executive Officer for Passavant, stated: “We are delighted to start 2018 on a positive note, with the AED 110 Million contract award for the Chișinău Wastewater Treatment plant. Our acclaimed wastewater and sludge treatment technologies have improved the quality of core infrastructure in several cities, through the various WWTP installations we have successfully delivered globally. Our in-depth array of German EPC turnkey solutions spans the complete lifecycle of Water & Waste treatment projects, from holistic design and build, to post operations and maintenance. Our versatile engineering scales and adapts to Municipal, Industrial and Surface Water treatment plants, Sea Water RO, Sludge Digestion, Solid Waste treatment plants, custom made Water treatment Packages, and Waste to Energy projects. We are pleased to have Ludwig Pfeiffer GmbH & co KG as our civil partners in this endeavor and are confident that the WWTP will be a befitting showcase of our combined experience, expertise, and project management.”   

The Chisinau (Moldova) project win marks DSI’s second contract award in 2018, marking an upswing in DSI’s operational recovery. Backed by DSI management’s support and global footprint, PE&E is well positioned to utilize the growth opportunities for its Water and Wastewater treatment solutions, across its key markets in 2018.

 

Established in 1842 in Germany, Passavant Energy & Environment has spearheaded several groundbreaking technologies and processes in municipal wastewater, sludge, water and industrial wastewater treatment, including the company’s in-house world-renowned sludge digestion technology. Based in Frankfurt, PE&E’s steady global expansion today gives it unmatched coverage and strategic presence in key markets across Europe, MENA and Asia, including North Africa, UAE, Saudi Arabia, Iraq, Lebanon, Turkey, China, India and Vietnam.






22-01-2018 DSI steams ahead with operational improvements in the UAE

New 5,000-capacity Labour Camp in Dubai to boost performance & projects delivery


Dubai, UAE; January 22, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services, continues its strong start in 2018 with its latest announcement of a new labour camp in Dubai aimed at boosting performance, productivity and projects delivery in the UAE. The development is part of DSI’s ongoing UAE-wide operational improvements and sustains the momentum of its recently completed debt restructuring which has infused new credit facilities for ongoing and new projects.

 

The camp will accommodate 5,000 workers and will cater to ongoing and future projects in Dubai while raising the overall operational capacity of the Group in the UAE. It will showcase the scope, skills and diversity of DSI’s workforce.

 

The Company’s total headcount of labourers across all markets currently stands approximately at 12,000, comprising some of the best talents in the engineering and construction sector. More initiatives geared towards further operational improvements and accelerated recovery will be unveiled in 2018. The group is currently on a recruitment drive to further reinforce its workforce across all its operating segments, which helps in maintaining an accelerated momentum for project awards throughout 2018.

 

Rabih Abou Diwan, Investor Relations Director, Drake & Scull International PJSC, said: “DSI is now well-positioned for a new phase of recovery and growth after successfully addressing major operational and financial challenges last year. Led by a new visionary leadership team and backed by Tabarak Investment, the Company is undertaking several measures to improve its operational capabilities. In the coming months, additional initiatives focusing on the adoption of best practices and optimization of cost efficiencies will be rolled out.”

 

The new labour camp reflects the strategic and long-term investment of Tabarak Investment at Drake & Scull International--moving ahead with its plans to support the company to achieve full operational recovery by completing existing projects, targeting new ones and looking for new opportunities to diversify and expand income. Tabarak Investment has confirmed a significant improvement in the efficiency of operations under the leadership of DSI’s new management, which will support the latter’s financial performance during this year.






15-01-2018 DSI in advanced stages of negotiation for AED 1 billion worth of contracts with Wahat Al Zaweya in Al Ain

  • -Company awarded a AED 250 million contract to develop Nasayem project in Al Ain

     

  • -Negotiations in process for additional new contracts at Wahat Al Zaweya valued at AED 750 million expected to be finalized in H1 2018

 

 

UAE, January 15, 2018 - Drake & Scull International PJSC (DSI), a regional market leader in engineering and construction services, has announced that its general contracting subsidiary, Gulf Technical Construction Company (GTCC), is negotiating AED 1 billion worth of contracts with Wahat Al Zaweya in Al Ain, and has also been awarded as part of the negotiations a AED 250 million contract to develop the Nasayem project in Wahat Al Zaweya.

 

Under the terms of the agreement, GTCC has already started the construction works for the 336-unit villa complex Nasayem project, which will be composed of 290 three-bedroom villas and 46 four-bedroom villas.

 

The contract award for Nasayem project in Wahat Al Zaweya has been secured and finalized, while final negotiations are now underway for additional contracts that are valued at AED 750 million. The negotiations are expected to be concluded in the first half of 2018.

 

Rabih Abou Diwan, Investor Relations Director, Drake & Scull International PJSC, said: “The new Wahat Al Zaweya contract is a great start towards what we expect to be an invigorated fiscal year marked by steady recovery and further stability. DSI is now pursuing accelerated growth and sustained industry leadership through key projects such as this that showcase our unrivalled expertise and the market confidence we continue to enjoy. We expect more of such positive developments in the coming months from GTCC and across all our divisions.”

 

The new project award reflects the strategic and long-term investment of Tabarak Investment at Drake & Scull International--moving ahead with its plans to support the company to achieve full operational recovery by completing existing projects, targeting new ones and looking for new opportunities to diversify and expand income. Tabarak Investment has confirmed a significant improvement in the efficiency of operations under the leadership of DSI’s new management, which will support the latter’s financial performance during this year.