Muscat – Galfar Engineering and Contracting Company, a leader in Oman’s construction and contracting sector, has secured a major contract for the construction of the Dualisation of Adam-Thumrait Road – Part 4, valued at approximately RO118mn. This follows a string of significant contract wins in recent months, bolstering the company’s order book to a record high.

The Ministry of Transport, Communications, and Information Technology (MTCIT) awarded the contract to Galfar, as disclosed by the company in a filing to the Muscat Stock Exchange on Sunday.

Following the announcement, Galfar’s shares rose 1.1% on the Muscat Stock Exchange.

‘The letter of award was accepted on November 25, 2024. The total project value is approximately RO118mn, with a total duration of 39 months for mobilisation and execution, beginning from a commencement date to be determined,’ Galfar said in its disclosure.

The new contract, Galfar noted, will significantly enhance the company’s order book and further consolidate its position in the competitive infrastructure sector.

This contract is part of the broader Adam-Thumrait dual-carriageway road project, which is being implemented in multiple phases. Earlier this month, Oman’s Tender Board, on behalf of MTCIT, awarded contracts for three sections of the highway, including Part 4 for RO118.37mn. Part 3 was awarded for RO70.03mn, and Part 5 for RO69.79mn.

Eng Yousef bin Abdullah al-Mujaini, Director General of Roads and Land Transport at MTCIT, recently said that the construction on the Adam-Thumrait dual-carriageway is expected to begin in early 2025, once contractual procedures are completed.

“Upon completion, the Adam-Thumrait road dualisation will be one of the longest infrastructure projects undertaken by the ministry,” Mujaini added. He further explained that Part 4, which has been awarded to Galfar, will span a distance of 135 kilometers, starting from the Wilayat of Maqshin, passing through Qatabit, and extending to Duka.

Record order book growth

The new contracts this year have pushed Galfar’s order book to a record RO890mn as of September 30, 2024, marking a significant increase from RO589mn in the previous year. The company’s growing pipeline of projects, particularly in infrastructure and oil and gas, has positioned it well for continued growth.

‘The expansion of our order book to a record RO890mn reflects our ability to secure high-value contracts and reinforces our strong position in the market,’ Galfar said in its latest financial report.

‘We are confident that our robust project portfolio, combined with our ongoing participation in key national infrastructure initiatives, will sustain our growth and leadership in the sector,’ the company added.

In line with Oman Vision 2040, Galfar anticipates further collaboration with the government and private sector for Public-Private Partnership (PPP) projects, ensuring its role as a key contributor to national growth.

It said, ‘The pipeline of projects in sectors such as education, health, transportation, and technology continues to grow, and we are prepared to seize these opportunities to drive our revenue and market presence.’