News

Drake & Scull awarded $600m Suez Canal Project

16 May 2014

Drake & Scull International (DSI) has won a place on a consortium building a $5bn petrochemical complex in Egypt. The consortium, which is is led by the Italy’s Maire Tecnimont and the Dutch Archirodon Group, will undertake about $1.7bn of infrastructure work, including a desalination plant, waste water treatment works, a power station and pipelines. The value of the work to DSI is about $600m.  

The client for the work is the Egyptian company Carbon Holdings, which is part of the Tahrir Petrochemical Corporation. Work on the scheme, which is located at the Red Sea entrance of the Suez Canal, is scheduled to begin next year.  

Carbon Holdings said the project will be the project would create up to 100,000 jobs, both in building and operating the complex, and in the downstream industries that turn the refined oil into grades of fuel and chemical products such as plastic and fertiliser.

Suez Canal (Wikimedia Commons)

Khaldoun Tabari, the chief executive of DSI, said: “We are pleased to be part of this international consortium delivering this vital project which will transform Egypt’s petrochemical sector. ” 

This year DSI has won projects worth $457m in the UAE, Saudi Arabia, Kuwait, Algeria, India and Europe. The Tahrir Petrochemical Complex deal takes the total value of work won to $1b.