Dubai Investments unit seals Riyadh Metro contract
Dubai Investments unit seals Riyadh Metro contract :Dubai Investments (DI), a leading, diversified investments conglomerate listed on the Dubai Financial Market, said one of its subsidiaries, Emirates Building Systems has been awarded a contract to provide steel structures for the second phase of the Riyadh Metro Project.
The metro contract is part of the Dh51 million ($13.8 million) projects won by Emirates Building Systems across Saudi Arabia and Oman, as demand for steel structures increases amidst infrastructure developments in the GCC countries.
The DI unit has also won a new contract for Petrofac in the Khazzan gas project in Oman. With the new projects, the company is expecting a strong performance this year, to build on its 2015 sales revenue of over Dh200 million ($54.4 million).
A part of Dubai Investments Industries and a regional pioneer in the design, fabrication and construction of steel structures and building solutions, the Emirates Building Systems has also announced a strong focus in Africa, particularly in Nigeria, Ghana, Ethiopia and Tanzania.
It is currently conducting feasibility studies on several projects, given the escalating demand for steel structures for infrastructure and commercial projects as well as the oil and gas sector in the continent.
Samir Akra, the general manager of Emirates Building Systems, said: “Over the years, we have set an unparalleled track record across the wider Gulf and the rampant construction – be it the infrastructure projects such as the public transport system in Saudi Arabia or the oil and gas sector in Oman and Kuwait – is leading to pent-up demand for steel structures.”
“Our company is well-positioned to cater to this increase in market demand,” he added.
Simultaneously, Emirates Building Systems is also bidding for a number of other projects including the football stadium contracts for the FIFA 2022 Qatar, petrochemical projects in Saudi Arabia and Oman, besides energy, commercial and industrial developments in Kuwait.
Since its inception, the company has achieved commendable milestones as the pioneers in steel structure fabrication since and holds a proven track record in providing end-to-end steel building solutions for several of the regionâ€™s prestigious steel structure landmarks.
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