Muscat: Galfar Engineering and Contracting Company, the biggest contracting firm in the Middle East, has been awarded a tender for four laning of Kashipur-Sitarganj section of NH-74 in the States of Uttarakhand and Uttar Pradesh by National Highways Authority of India, Ministry of Transport and Highways, Government of India, on design, build, finance, operate and transfer (DBFOT) basis.
The company will get a grant of Rs2.23 billion, equivalent to RO16 million. The construction period is for 910 days, and the concession period is 21 years and the project is envisaged to cost RO42.61 million, the company's Vice-Chairman and Managing Director Dr P. Mohammed Ali stated, in a disclosure statement.
The company's Indian affiliate has completed the Indore-Ujjain road project on BOT basis, and started toll collection for 25 years. The execution of other two projects, including Ghaziabad-Aligarh road, are in full swing and will be ready within a year. Also, the company has submitted serious bids for road projects and is expecting some more projects in India in the near future. These projects are in the region of Rs10 billion, Dr Mohammed Ali earlier said.
The company's order book position was around RO700 million by end-September, 2012. As Oman government has a lot of plans for infrastructure development, the company expects to get a fair share in the contracts.