Galfar wins $31m water project
Muscat, June 23, 2010
Oman's Galfar Construction & Engineering Co has won a contract worth 12 million Omani rials ($31.17 million) to build a water distribution network in northwest of Oman.
"Galfar will build reservoirs, including trenching and pipelines to connect to all houses in the area," a tender board official told Reuters.
Galfar Engineering won contracts worth 41 million rials for infrastructure projects earlier in April, covering road projects and a hospital building.
It reported a net loss of 843,000 rials ($2.78 mln) in the first quarter mainly due to a project cost increase.
The company made a profit of 4.6 million rials in the first three months of last year. - Reuters