Saudi Arabia is set to see major growth in its MEP sector following the construction boom that has spread across the Kingdom, a leading industry expert has claimed.
Vigorous economic growth has seen new residential projects, shopping centres and high rise commercial towers spring up across the country. As a result of this increase in construction, there has been burgeoning growth in related fields such as power and water and mechanical, electrical and plumbing, Tawfiq Abu Soud said.
“The current boom in the construction segment, with many large projects in the pipeline, represents enormous opportunities for the company, especially in the water and MEP sectors,” the executive director of Drake & Scull Water and Power (DSWP), said in an interview with the Saudi Gazette.
DSWP is a wholly owned subsidy of Drake & Scull International (DSI), the regional giant which is involved in a number of aspects of the construction industry, including integrated design, engineering and construction disciplines of civil contracting, MEP and water and power.
DSI is poised for major growth in 2012, Abu Soud said, partially due to the increased demand for water and power services in the region.
Since its inception, DSWP has completed projects in the UAE, Qatar, Saudi Arabia and other GCC markets.
The company also completed the integration of Passavant-Roediger into DSI's business platform and secured a series of project wins in Europe, China and the MENA region.
In 2011 DSWP, signed a memorandum of understanding with Australian based company Earth Heat Resources Limited, an ASX listed New Energy Company, to jointly explore, bid for and secure geothermal project opportunities in the Middle East and Africa, the Saudi daily reported.
DSWP is also actively seeking opportunities in the solar power and other alternatives energy sector in the region, Abu Soud added.