Muscat: The Sultanate of Oman-based Galfar Engineering & Contracting SAOG (Galfar) has announced that it bagged a joint venture contract with RO 521 million (approximately $1.4 billion).
In a filing to the Muscat Stock Exchange, Galfar stated that Oman-Etihad Rail (Hafeet Rail) has awarded its joint venture a contract worth RO521 million to build the Abu Dhabi-Suhar railway network.
"This win strengthens Galfar's order book and positions the company for a strategic foray into the promising realm of railway projects," the company said in a statement.
The contract award was announced on the sidelines of the two-day state visit of His Majesty Sultan Haitham bin Tarik to the UAE that concluded on Tuesday.
The Omani-UAE consortium led by Trojan Construction Group (NPC) of the UAE and Galfar of the Sultanate of Oman secured civil contracts for the joint development of the rail network.
The Abu Dhabi-Suhar railway link is a cornerstone project in Oman's infrastructure development plans.
This high-speed rail line is expected to revolutionize transportation between the two economic powerhouses, significantly reducing travel time and bolstering trade activity across the region.
The city of Suhar, with its thriving industrial port complex, and Abu Dhabi, a major commercial and political center, stand to benefit immensely from improved connectivity. Analysts predict streamlined logistics, increased foreign investment, and job creation as a result of this project.
Established in 1971, Galfar has built a solid reputation for excellence in design and construction across diverse sectors like oil & gas, water & wastewater, and transportation. Their proven ability to manage large-scale projects, coupled with their engineering and construction expertise, makes them a strong choice to lead the Abu Dhabi-Suhar railway project.
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