Galfar wins $24m contract from Oman's Khazaen Economic City
Omani construction giant to deliver key infrastructure works under first contract awarded for Oman's largest PPP project
Oman’s Muscat Securities Market-listed (MSM) Galfar Engineering & Contracting has been awarded a $24m (OMR9.2m) initial infrastructure contract to work on the Khazaen economic city – touted as the sultanate’s largest public-private partnership (PPP) project – for which Atkins, part of Canada’s SNC-Lavalin Group, is working as lead consultant.
Galfar is expected to begin construction in October of this year and will be responsible for developing 10km of asphalt roads, a streetlight network, 15km of storm water channels, and a 22km potable water network – including the main water transmission line and storage tanks – as part of its contract, which is the first deal awarded for the Khazaen megaproject.
The MSM-listed firm's scope is scheduled to complete in 10 months and project completion is due in 12 months.
Phase 1 of the development will feature 300ha of investment areas, with foreign and domestic investors invited to spend in the zone by eponymous developer Khazaen Economic City.
Commenting on the contract award, Khazaen Economic City’s chief executive officer, Khalid Awadh Al-Balushi, said: “The development of a high-quality infrastructure network at Khazaen Economic City demonstrates our commitment to this project and will serve as an important catalyst for growth, attracting investors and tenants alike.”
General manager of projects at Khazaen Economic City, Eng Salim Al Thuhli, added: “The awarding of this initial infrastructure contract will enable and support the development of all subsequent initiatives and projects at Khazaen, and establishes fully serviced platforms for local and international investors.
“Today’s announcement demonstrates that the Khazaen project is well under way and is being conducted in line with the highest international standards. We look forward eagerly to the completion of this phase, which is expected within the next 10 months.”