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FINANCIAL NEWS
Oman grants additional USD57m to Galfar for road project
27 Sep 2012
(MENAFN) Galfar Engineering and Contracting Company received an additional USD56.9 million from the Omani government to undergo a change in Hasik and Shuwaimiyah road project, reported Times of Oman.
The changes in the original design were aimed at making the carriageway an all-weather road.
The 94 km carriageway in Dhofar region was originally awarded for around USD177.4 million, estimated on the basis of an aerial survey, almost five years ago.
However, cost of the project has increased due to several changes, including re-alignment of some parts of the road, following cyclone Gonu, and building bridges instead of culverts in some areas.
Eng Salah bin Khalifah Al Shukhaili, director of Design Department at the Ministry of Transport and Communications, said that the area goes through a mountainous region. This would add more on the overall project cost.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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