Dubai's Drake & Scull International has signed three contracts valued at a total AED 149 million for projects in Qatar and India.

The firm signed two mechanical electrical and plumbing contracts in Qatar one for a AED 55 million hotel apartment project and AED 40 million district cooling project. It also secured AED 54 million contract for a residential tower project in India.

Mr Khaldoun Tabari chairman of DSI said that "Qatar remains a key strategic market for DSI in the region and we expect a stronger momentum of project awards next year as we have not seen many contracts materialize in 2012. The new MEP project award in India is the first for us in the residential sector and we aim to further expand in this sector."

Mr Tabari said that "Our Water & Power operations are engaged in many tenders across the country and in 2013 we expect further growth for DSI in the Indian utilities sector through Passavant Roediger our specialized global waste water and water treatment German subsidiary."

He said that Drake & Scull, which has been gradually expanding its operations outside the emirate following a slowdown in its once booming real estate sector, expects to complete the hotel apartment project in February 2014 and the other two projects in November 2013.

He added that the contractor last week sold warrants worth AED 147 million to Goldman Sachs. The strategic investment, which represents around 8.5% of the company's current market capitalization will enable the firm to grow its operations both horizontally and through acquisitions.