Dubai contractor Drake & Scull said it has closed the subscription for new capital, with proceeds exceeding AED450 million ($122 million). The company aims to raise AED2.9 billion ($789.4 million) new capital through distribution of 2.8 billion shares.
Drake & Scull International, a leading contracting and engineering company, has announced that its key subsidiary, Passavant Energy & Environment, has secured the design-and-build contract for a wastewater treatment plant in Saudi Arabia.