Engineer Abdulla Atatreh

Dubai, UAE, October 8: Drake & Scull International (DSI) announced that its capital restructuring programme by Tabarak Investment has been successful, the company said through a Press communiqué.

Speaking on the development, Engineer Abdulla Atatreh, Chairman of DSI, said: “The completion of the programme is a fundamental phase in rebalancing our capital structure and improving our liquidity, and the new capital injection will be used to improve operations and accelerate project execution, in addition to securing new projects and pursuing opportunities to diversify our income and reinforce shareholders confidence.

“Tabarak Investment will continue to support the company financially and strategically. And with the successful completion of the capital restructuring programme, the share capital of the company now stands at AED 1.07 billion and the total equity of the group increased by AED 500 million.”

Atatreh added that the investment paves a roadmap for the company’s leadership to proactively bag MEP projects in the GCC region and regain business momentum.