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Oman Business News

Galfar bags OMR26m road project

Galfar Engineering and Contracting Company, the Sultanate’s biggest contracting firm, said the company has bagged contract valued at OMR26.24 million for works related to traffic opening at Al Batinah Expressway project (package three). The contract was awarded by the Ministry of Transport and Communications, according to a disclosure statement posted on MSM website. The Ministry of Finance has accepted the contract signed between the company and the Ministry of Transport and Communications.

The completion period of the contract is 426 days in addition to 30 days for mobilisation.

Meanwhile, Galfar Engineering early this week said the group’s net profit for the first half of 2017 stood at OMR6,000 against OMR540,000 posted for the same period of 2016.

The group’s total revenue for the January-June 2017 period stood at OMR152.90 million, against OMR174.18 million for the same period of last year, while total expenses were pegged at OMR152.49 million, down from OMR173.23 million during the period under review.
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