Oman- Galfar wins RO61mn Sezad contract

Date

8/29/2016 1:26:14 AM

(MENAFN- Muscat Daily) Muscat-

Galfar Engineering and Contracting Co has been awarded a RO60.69mn contract for the construction of a fishery port in Duqm by the Special Economic Zone Authority at Duqm (Sezad).

'Galfar has been awarded contract number C74/2016 for the construction of fishery port (marine and road related works) at Duqm by Sezad on August 24, for a value of RO60,693,736,' Dr Hans Erlings, chief executive officer, said in a company filing with the Muscat Securities Market (MSM).

The duration of the contract is 30 months, in addition to six months for mobilisation. 'We expect reasonable income from this project,' Dr Erlings said in the disclosure.

Galfar shares rose 1.9 per cent on Thursday on the announcement.

Sezad has floated the tender, this January, inviting local and international contractors. Marine work as part of the contract includes dredging, reclamation, breakwaters, quay walls and concrete floating pontoons with berthing facilities, navigation aids, complete with ancillary works.

This contract is Galfar's third biggest year-to-date. The company's other major contract wins this year include the extension of the off-plot delivery contract (ODC North Oman) with PDO for further two years and the award of the RO115mn Yibal Khuff on-plot construction project, also by PDO.

In its first half 2016 report, Galfar said it maintains a healthy order book of over RO690mn and expects the award of some more projects which have already been tendered.

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