Drake & Scull Secures AED 215M Project in Jordan

Drake & Scull International PJSC (DSI), a leading construction and engineering firm in the UAE, has announced a significant achievement through its subsidiary, Passavant Energy & Environment Ltd. The subsidiary has been awarded a substantial contract to design, construct, and operate the North Balqa Wastewater Treatment Plant (WWTP) in Jordan. This project, valued at JOD 41.5 million (approximately AED 215 million), marks a pivotal step in DSI's strategic expansion within the Middle East.

The project is financed by the Agence Française de Développement (AFD) and the European Union’s Neighborhood Investment Platform (EU-NIP), reflecting international confidence in DSI's capabilities. The North Balqa WWTP is set to enhance the wastewater treatment infrastructure in the north-eastern Balqa Governorate, with an ultimate treatment capacity of 54,000 cubic meters per day. The first phase will deliver a daily capacity of 36,000 cubic meters, followed by a year of operation and maintenance.

One of the standout features of this project is its integration of cutting-edge technology to convert waste into electrical energy. This aligns with Jordan's long-term sustainability and energy efficiency goals, showcasing DSI's commitment to innovative and environmentally conscious solutions.

The comprehensive scope of the project includes design and engineering, supply and delivery of equipment, testing and commissioning, and a year of operation and maintenance. It encompasses an integrated wastewater treatment plant, a terminal pumping station, effluent treatment units, sludge treatment tanks, water distribution pipelines, and an advanced odor control system. The treated effluent will be transferred to the King Talal Dam, supporting agricultural reuse in the Jordan Valley.

For investors, this project signifies DSI’s robust positioning in the regional market and its ability to secure and execute large-scale projects. It reflects the company’s strategic focus on expanding its footprint across the Middle East and its commitment to sustainability. Given the scale and scope of this project, DSI’s stock may see positive momentum, making it an attractive consideration for investors. However, potential investors should also consider the broader market conditions and the company's performance in other sectors before making a decision.

In conclusion, DSI’s recent contract win is a testament to its engineering prowess and strategic acumen. As the company continues to leverage its expertise in integrated design and construction solutions, it remains a key player in the region’s infrastructure development. For now, investors might consider holding their positions to observe how this project impacts DSI’s overall performance and market valuation.