Dubai's DSI expects to hear soon from Aramco on outstanding payments-C

09/05/2017 05:20 AST

Drake & Scull International (DSI) is expecting to hear "very soon" on payments worth 1.05 billion riyals ($280 million) or almost half of the outstanding amount for the work it did on Saudi oil company Aramco's research project, its chief executive said.

The company may consider all legal options including arbitration to recover the remaining amount for its work on King Abdullah Petroleum Studies and Research Centre (KAPSARC), DSI group chief executive Wael Allan told Reuters in an interview.

"All options are open," he said. "We feel strongly that we are due some of these claims and we will pursue them to the end." The $543 million project was completed in 2012, according to DSI's website.


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News

DSI announces the appointment of Group Chief Executive Officer

29/03/2018

The Board of Directors of Drake & Scull International PJSC ("DSI" or the "Company"), a regional leader in engineering and construction services, announced the appointment of Dr. Fadi Feghali as the G

Press Release

DSI to issue convertible sukuk in second quarter

29/03/2018

Drake & Scull International (DSI), a regional engineering and construction service provider, said it is targeting to issue a sukuk convertible into equity in the second quarter of 2018.

The

Gulf News

Drake & Scull International swings to Q4 profit

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Drake & Scull International, a regional leader in engineering and construction services, is back in the black with a net profit of Dh700,000 ($190,549) for the fourth quarter in 2017 compared to a n

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