Galfar wins $208mn Indian contracts
Omani contractor to work on two road contracts in Uttarakhand, Uttar Pradesh and Rajasthan
Galfar will build the road projects in Uttarakhand, Uttar Pradesh and Rajasthan.
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Galfar Engineering and Contracting, the Omani construction firm, announced on Tuesday that it had secured two road construction contracts in India worth $208.8mn.
According to a filing with the Muscat Securities Market, Galfar said it had been awarded the contracts by the National Highway Authority of India. The roads will be built in the states of Uttarakhand, Uttar Pradesh and Rajasthan.
The contractor won a tender to convert the Kashipur-Sitarganj section of National Highway 74 in the states of Uttarakhand and Uttar Pradesh. The contract was awarded on a design, build, finance, operate and transfer basis, with a grant of $41.5mn.
“The project is expected to cost $110.64mn. The concession period is 21 years for the contract and the construction period is 910 days,” said Dr P Mohammed Ali, vice chairman and managing director of Galfar, in the company disclosure.
The second contract awarded by NHAI is for the design, engineering, finance, construction, operation and maintenance of the two lane Rajasthan border – Fatehpur-Salasar section of National Highway 65 in Rajasthan. This was awarded with a grant of $25.5mn.
“The expected project cost is $98.3mn and the concession period for the project is 30 years, including a construction period of 910 days,” Dr Ali explained.
Galfar has a fully owned subsidiary in India which is actively engaged in road projects across the country. In addition to its GCC presence, Galfar also has operations in Libya, where it is focusing primarily on the oil and gas section.
