Oman's Galfar wins $224m Rusail-Nizwa road construction contract

Contract spans 912 days and is expected to deliver "reasonable income", contracting giant's CEO, Dr Hans Erlings, says

Galfar will build a road in Oman [representational image].
Mohammed Mahjouba/AFP/Getty Images
Galfar will build a road in Oman [representational image].

Oman-headquartered construction company Galfar Engineering & Contracting has been awarded a contract worth $224m (OMR86.3m) for the construction of two additional lanes as part of the Dualisation of Al Rusail-Nizwa Road project by the sultanate’s Ministry of Transport and Communications.

In a statement on Muscat Securities Market, Galfar’s CEO, Dr Hans Erlings, said the project’s completion period is 912 days.

Another 60 days will be required by the contractor for mobilisation work.

“The Ministry of Transport and Communications will inform us [about] the date of work commencement later,” the statement adds.

“We expect reasonable income from this project.”

READ: A deep-dive into Galfar’s 2018 financial results

Galfar group reported a profit of $5.7m (OMR2.2m) for 2018, which marks a steady improvement over 2017’s loss of $16.8m (OMR6.5m).

Accumulated losses amount to $43.1m (OMR16.6m), better than 2017’s corresponding figure of $47.8m (OMR18.42m), and revenues reached $751m (OMR289.1m) last year.

The engineering, procurement, and construction contractor is divesting its Indian investments, and entered an agreement with PMA International on 18 February to start the sale, worth $44.6m (OMR17.2m).  

Most popular


Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020