DSI signs $16mn MEP deal for Mumbai project
New Cuffe Parade project is the latest in a series of infrastructure deals signed by Dubai based contractor
Drake & Scull International have announced that it has been awarded a $16 million turnkey mechanical, electrical and plumbing contract for a project in Mumbai, India.
Under the terms of its agreement with the Lodha Group, the Dubai based contractor will perform MEP works for four towers in the New Cuffe Parade project.
Located in the new Mumbai Metropolitan Region Development Area (MMRDA), near the IMAX Dome Wadala, near South Mumbai, the development is spread across 23 acres of land. The New Cuffe Parade project is the latest in a series of infrastructure deals signed by DSI in India as it looks to step up its expansion drive in the country.
“We are achieving significant progress with our expansion drive in India where the government has launched widespread initiatives to speed up private investment in infrastructure sector through Public Private Partnerships (PPPs),” said Khaldoun Tabari, CEO of Drake and Scull International.
“DSI is well-positioned to provide expertise, technologies and resources especially in Hospitality, Aviation, Railways, Urban Infrastructure and Housing, Thermal and Renewable Energy and Water and Wastewater sectors via our Water & Power and MEP business units.”
He added that India was familiar territory for DSI as they had already delivered a $25 million thermal power project in Orissa and a solar power project in Tamil Nadu.
“We are currently working on two major projects including a Coal Power project and the World Crest, (one of the tallest towers in India) collectively worth $67 million,” Tabari pointed out. “The new contract with the Lodha Group further strengthens our market position as we consolidate our stronghold in the subcontinent. We expect to secure more project wins from India in 2014 and hope it becomes one of our major markets in the near future.”
The Indian government has implemented a series of measures to accommodate and accelerate private investments through PPPs. In August 2013, the government approved 36 projects in the energy, power and infrastructure sectors worth $27.8 billion.
With an announced $154 billion worth of infrastructure projects to be funded via PPPs, India remains a market of tremendous opportunity for construction contractors.
