Galfar projects-Petropipe

Oman’s Galfar wins $24.5m Fahud runway revamp project from PDO

Oman’s Muscat Securities Exchange-listed (MSM) Galfar Engineering & Contracting has secured a $24.5m (OMR9.5m) contract for the Fahud Runway Rehabilitation Project from the Sultanate’s state-held Petroleum Development Oman (PDO).

In a stock market filing undersigned by the contractor’s chief executive officer, Hand Erlings, the company said that the contract has been awarded for a period of 11.5 months, which is effective from 7 April 2020, with the contract being awarded on 31 March.

The company added that it expects “reasonable income from this project”.

In March, the company’s chief financial officer, Anantha Subramanian resigned from his post for “health reasons”. Subramanian was appointed to his role at Galfar in January 2018, following the resignation of its then CFO Gerard Hutchinson in September 2017.

The Omani contractor received a “letter of award” for a project covering the construction of cliff road and access road, with the contract being valued at $4.5m (OMR1.7m).

Source: https://bit.ly/2RAbrjD

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