Dubai's Drake & Scull wins Dh415m contract for Louvre Abu Dhabi

DSI has been awarded a Dh415 million contract to complete the mechanical electrical and plumbing (MEP) work for the museum on Saadiyat Island.

Construction of Louvre Abu Dhabi is scheduled to be completed in the fourth quarter of 2015. AFP Photo

has been awarded a Dh415 million contract on Abu Dhabi’s vast new Louvre art museum on

.

The contractor was awarded the mechanical, electrical and plumbing package by a consortium led by fellow Dubai-listed builder

, which won the Dh2.4 billion order to build the long-delayed museum in January.

Absolouvre, a joint venture between Arabtec, Constructora San Jose and Oger Abu Dhabi awarded the work to DSI in coordination with fellow mechanical, electrical and plumbing specialist contractor Habtoor Leighton Specon.

The 64,000 square-metre museum, has been designed by the Pritzker Prize-winning architect Jean Nouvel as a complex of pavilions, plazas, alleyways and canals, evoking the image of a city floating on the sea. Hovering over the complex will be a 180-metre-wide dome perforated with interlaced patterns, which will allow light to filter through.

The project, which is being developed by the Saadiyat master developer Tourism Development & Investment Company, is currently scheduled to be completed in the fourth quarter of 2015.

“This is a great opportunity to create a major impression on the local and global market as DSI helps bring to life one of the world’s most iconic art museums,” said Khaldoun Tabari, the company’s chief executive.

The announcement comes amid an increase in the level of cooperation between DSI and Arabtec – and also with the Dubai-based interiors contractor Depa.

Last year, Arabtec bought a 24 per cent stake in Depa and this year a number of Arabtec directors took seats on the

board alongside Mr Tabari, prompting speculation of a potential merger between the three firms.

Rumours have increasingly been circulating that Arabtec could take a stake in Drake & Scull.

This year Mr Tabari took a seat on the Depa board on behalf of Arabtec. When asked this summer whether DSI had been approached by Arabtec with a view to a takeover, Mr Tabari said he could not comment. “I really can’t answer that,” he told investors at the time. “Will there never be this possibility? All companies have possibilities. Are there discussions today? No.”

The increase in collaboration with Arabtec and a revival in the UAE and Saudi Arabian markets helped DSI last month to announce a 63 per cent increase in second-quarter profits to Dh52.2m compared to the same period a year earlier. DSI stock fell 0.88 per cent yesterday.