Galfar wins $101 million port contract
Muscat, July 5, 2010
Oman-based Galfar Engineering and Contracting has won a contract worth RO39 million ($101.3 million) to build a harbour in an island off the southern coast of the Gulf Arab state, it said in a statement.
'The contact at Al Halaniyat Islands includes the harbour construction and a road network as well as some tourism infrastructure,' the statement to the Muscat bourse on Monday said.
Galfar will complete the project in 30 months after a three-month mobilisation period.
Galfar has won a number of projects from the government of Oman in the last two years, ranging from hospitals' equipment, road networks to bridges.
Oman is preparing Al-Halaniyat Islands as one of the major tourist destinations in its bid to diversify the Gulf Arab state's income away from oil income.
Galfar shares closed up 2.2 per cent on the Muscat bourse. – Reuters