Arabian Business reported that Dubai based Drake & Scull Water and Power has been awarded an AED 75 million infrastructure contract for the construction of a sewerage project in Al Ain.

The company, a subsidiary of Drake & Scull International said that work on the project will start immediately and will be completed by November 2012. DSI has been focusing on projects outside of its home market since the onset of the global financial crisis caused construction projects in Dubai to dry up.

The company started its operations in Algeria during the Q2 of this year and is planning to expand into new geographies such as India, Iraq, Vietnam and Djibouti. DSI secured AED 3.263 billion in contracts in the H1 of the year and posted a net income of AED 51 million in the Q2 up 12% on Q1.

Rasmala last week said that DSI is likely to see strong revenue growth for the foreseeable future. The investment bank said it was raising its forecast for revenue growth by 10 percent for 2011 to 2014. We expect the company to maintain its strong growth trajectory during the foreseeable future.

(Sourced from www.arabianbusiness.com)