Bloomberg News

Drake & Scull in Final Talks for $300 Million Basra Pipeline

May 21, 2012

Drake & Scull International PJSC (DSI) is “about to take its first job” in Iraq, the company’s chief executive officer said.

The company is part of a group in final negotiations over the construction of a pipeline in Basra and expects to hear in about 30 days, Khaldoun Tabari told a conference in Abu Dhabi today. The contract would be worth about $300 million in revenue for the company.

Profit at the Dubai-based construction company will be better in the second-quarter, he said. Net income fell to 37.6 million dirhams ($10.2 million) in the first quarter from 45.9 million dirhams a year earlier amid increased expenses, the company said on May 15.

To contact the reporter on this story: Tamara Walid in Abu Dhabi at twalid@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net


Coke's Big Fat Problem
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus