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FINANCIAL NEWS
Oman- Galfar Engineering secures USD38.85m contract
19 May 2013
(MENAFN) Galfar Engineering and Contracting Company’s chairman, Sheikh Salem Al Araimi, announced that the Omani company has secured a 2-year USD38.85 million contract, reported Times of Oman.
The company will be in charge of establishing a pipeline and carrying out fabrication works at Safah and Wadi Latham Oilfield of Occidental of Oman.
Furthermore, the biggest contracting firm in Oman has also secured a USD10.62 million contract from Oman Medical College to set up other buildings at their Sohar campus, with the project slated for completion before next year’s July.
It is worth noting that Galfar Engineering and Contracting posted a net profit of USD6.91 million in the first quarter, up by 55.23 percent from 2012’s same period.
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