(MENAFN- Muscat Daily) Muscat- Galfar Engineering and Contracting Co has been awarded a RO29.7mn contract by Daleel Petroleum for construction services.
'Daleel Petroleum has awarded Galfar a contract for provision of construction services for Daleel on-plot areas. The estimated value of this four year contract is RO29.7mn', Galfar said in a filing to the Muscat Securities Market (MSM) on Monday.
This on-plot service contract is for a duration of four years starting from date of award (February 15) with one year extension option with an estimated value of RO7.44mn per year. The mobilisation period of the contract is three months.
Galfar said it expects reasonable income from this project. The company's shares rose 3.61 per cent on Monday at the MSM.
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