DSI steams ahead with operational improvements in the UAE

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.