Galfar wins major Oman road contract
Manama, July 7, 2014
Oman's Galfar Engineering has won a 40.48 million rial ($105.14 million) road building contract in the country's Dhofar region, the company said in a bourse statement on Sunday.
Galfar Engineering stocks rose 1.2 per cent after the contract win annoucnement.
The deal showed the company can still win state contracts after former executives were jailed earlier this year for corruption.
Galfar is Oman’s largest construction company with EPC capability in oil & gas, roads & bridges and civil & utilities sectors operating in the Sultanate, other GCC countries as well as India.
Over the last 40 years, the company has established itself as the “Preferred Partner in Development” in Oman with a turnover nearly $1 billion.-Reuters