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FINANCIAL NEWS
Larsen & Toubro wins contract for Oman university
13 Jan 2013
(MENAFN) Oman has recently awarded Indian contracting firm Larsen & Toubro a USD49.3 million contract to build a new university in the Gulf country, Oman News Agency reported.
The contractor’s Oman unit will build phase one of Al Buraimi University within 20 months as part of the contract agreement.
Sayyid Ibrahim bin Saud al-Busaidi, governor of Al Buraimi, said the university will be built on about 1.1 million sq m and its design will be “in line with the history and culture of the Al Buraimi Oasis”.
Dr Abdullah bin Mohammed al-Sarmi, Undersecretary of the Ministry of Higher Education and acting chairman of Al Buraimi University, said the campus will include buildings for administration, teaching staff, three colleges, laboratories and foundation programme.
Oman government spends an estimated USD3.5 billion annually on education alone and allocates around 12-14 percent of its yearly budgeted expenditure to the education sector.
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