Oman's Galfar Engineering secures contracts worth $139mln

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Galfar Engineering & Contracting SAOG, a publicly listed Omani contractor, has secured two significant contracts that collectively enhance its standing in Oman’s infrastructure and energy sectors.

The first contract, awarded by Occidental Oman Inc (Oxy), is valued at approximately RO 18.5 million. It pertains to the provision of civil works services for B53 and B72. The five-year call-off contract is set to commence on October 1, 2024 and includes an optional two-year extension that could bring an additional estimated value of RO 6.5 million to the project. The total contract value could potentially increase if both parties agree to the extension.

In a separate development, Galfar has also been awarded a substantial tender by Nama Dhofar Services Company for the "Expansion of Raysut Water Reclamation Plants - Phase III (Stage 1)." This project, valued at approximately RO 35 million, marks a significant step forward in Oman’s infrastructure and wastewater management sector.

The project is set to be executed over 36 months from the commencement date. This strategic award is expected to enhance Galfar’s Order Book and sustain its market share in the wastewater services industry. The expansion project aligns with the company’s long-term growth and sustainability goals, focusing on improving water reclamation capabilities to meet the increasing demand for efficient and environmentally friendly water management solutions.

These two contracts, with a combined value of RO 53.5 million, underscore Galfar’s ongoing commitment to delivering innovative and sustainable infrastructure solutions, reinforcing its role as a key player in Oman’s economic development.