Galfar forays into Indian infrastructure sector
Mon, 07 June 2010
By Kaushalendra Singh - MUSCAT — Leading Omani engineering and construction firm, Galfar, has unleashed an ambitious expansion plan in India and Kuwait. The company has plans to increase further its business activities beyond Oman in next three-to-five years. Announcing this, Galfar Chairman Shaikh Salim al Araimi, said the company was successful in getting three major road projects in India. The company is bidding for more projects and it is hopeful to emerge as a major contracting company in India.
The three sanctioned projects, work on which is likely to start soon are: Indore-Ujjain road worth RO 32 million, Bhubaneshwar-Chandipur road worth RO 140 million and Aligarh-Gaziabad Road worth RO 130 million. Soon after the completion of the projects the company will be given right to collect toll, which will prove to be another revenue earner for the company. The Galfar chairman also announced the acquisition of a 26 per cent in Kuwaiti infrastructure firm, Shaheen al Ghanim Roads and Bridges Contracting Company. By this Galfar will have 52,000,000 shares of the company at a cost of KD 4.022 million.
Shaheen al Ghanim Roads Bridges Contracting has been a leading player in Kuwait’s infrastructure sector for over 23 years, pursuing a line of business largely similar to that of Galfar, especially on the infrastructure construction front.
Giving more details about the acquisition Dr P Mohamed Ali, Galfar Vice-Chairman and Managing Director said Shaheen has huge storage potential for construction material and has licence to shipping and cement production.
The acquisition, according to Dr Mohamed Ali will help Galfar extend its operations into Kuwait’s growing infrastructure sector. “A related company, Galfar al Misnad Engineering and Contracting, Qatar and its associates, have also acquired a 25 per cent share in the Kuwaiti firm. The business of the newly acquired Shaheen will be managed and controlled by Galfar Engineering and Contracting SAOG and Galfar al Misnad, Qatar,” he said.
Commenting on work on Muscat Expressway, Dr Mohamed Ali said it is likely to complete before the 40th National Day of Oman. He termed the work on Muscat Expressway as one of the most challenging, as the team involved in the work had to handle highest cuts in the mountains. Equally challenging was earthwork, bulk of which has been completed recently.
He hailed the cooperation of Muscat Municipality and other authorities in meeting the challenges, which came during the expressway work.
Starting from Qurm to Naseem Garden the state-of-the-art six-lane expressway will prove to be a great link for areas like Rabiat al Qurm, Madinat al Ilam, Madinat A’Sultan Qaboos, Al Khuwair, Bausher, Ghala, Al Ansab, Airport Heights, the future as well as the existing Muscat International Airport interchanges, Al Rusayl, Nizwa Road, Al Khoud, Halban and Al Naseem.