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FINANCIAL NEWS
Oman’s Galfar receives USD 297.75mn PDO contract
17 Mar 2016
(MENAFN) Galfar Engineering and Contracting Co. proclaimed the firm receiving a main contract to build Yabal Khuff project on plot for Petroleum Development Oman (PDO).
Moreover, the whole cost of the project value USD 297.75mn and the time of the contract is 51 months, while the work includes civil, mechanical, elect and instrumentation works.
The Company’s shares jumped to 3.28 percent to 63 bases among 1.67mn shares changing hands, which have a healthy order book of almost USD 1.72mn.
“Several projects are seen to be in the pipeline and Galfar stands a good chance at winning some of them during the year 2016,” said the Company.
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