Galfar awarded $24mn Khazaen Economic City’s construction contract
Infrastructure works expected to take 10 months
Khazaen Economic City, the master developer of the largest public-private-partnership project in Oman, has awarded the first construction contract for the development to Galfar Engineering and Contracting for $24 million, it has been announced.
A statement from the developer explained that Galfar will develop 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. Work is expected to begin in October 2019, with completion scheduled for within 12 months, it 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,” said Khalid Awadh Al Balushi, chief executive officer of Khazaen Economic City.
“The first phase of development will open up an area of 3 million sq m, representing a major investment opportunity in one of the sultanate’s key infrastructure initiatives. We encourage all interested parties, both foreign and domestic, to submit investment applications at the earliest available opportunity,” he added.
The award of the contract to Galfar Engineering & Contracting, follows the announcement of the detailed masterplan for Khazaen Economic City last month.
The city is strategically located in Barka, between Muscat and Sohar, and will cover an area of 52 sq km in its first stage. The city will serve as Oman’s northern logistics hub, connecting a number of key development projects across the sultanate via its extensive dry port facilities.
Khazaen will also host dedicated areas for commercial, industrial, and residential use, whilst also providing the residents of the wider region with new health, education and leisure facilities.
“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,” said Salim Al Thuli, general manager of project at Khazaen Economic City.
“The 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,” he concluded.
