Population growth demands expansion in the infrastructure, healthcare and real-estate sectors

Drake & Scull International for Electrical Contracting Kuwait (DSK) has won two contracts worth $24.52 million (Dh90m) within the education sector in Kuwait City, the first for the Kuwaiti-based company following its acquisition by Drake & Scull International (DSI) in December.

Khaldoun Tabari

“DSI growth strategy is focused on strengthening our presence in Kuwait, among other markets, and with the help of DSK, we expect to establish ourselves in the Kuwaiti market as leaders in the MEP industry,” said Khaldoun Tabari, vicechairman and CEO of DSI.

Kuwait announced earlier this year a four-year, $104-billion economic stimulus plan, which includes budget for major developments across Kuwait. These infrastructure projects, valued at $20 billion in contract revenue, will be in the form of roads, airports, hospitals and schools. Various residential and commercial projects are also needed to accommodate the country’s rapid population growth.

“Kuwait’s growing population is making demands on the country to expand its infrastructure, healthcare and real-estate sectors, so we see a lot of potential there,” Tabari said. “From every angle, DSI sees an abundance of opportunities within Kuwait, and our encouraging start in the year provides a positive insight for 2010.”

DSI acquired 75% of DSK at end-2009, in line with the company’s declaration to pursue acquisition negotiations in Kuwait, Qatar and Saudi Arabia.