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Fri, 09 Jan 2009 | 02:56 GMT

Galfar Engineering and Contracting   (GEC.MSM)
Also known as: GEC, Galfar, Galfar Group
Sector | Industry
Construction | Heavy Construction
 
Country of Origin
Oman
Last Trade
0.556 OMR
+ 2.77%
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Aug 29, 2008
 
Joint Stock
 
 
Civil and electromechanical contractors for roads, bridges, structures, buildings, utilities, environment, oil and gas projects; project management and engineering services.
1975 (August)
24,165 (Group)
2,471
75
Oman (18)
 
 
 
 
GEC 
Ordinary 
OMR 
 
 Key Officers
Salim Saeed Hamad Al Fannah Al Araimi
Chairman
Dr Hans Erlings
Chief Executive Officer and Executive President
 
 Contact Details
Address:
Building 760
Al Omaran Street
Ghala Industrial Area
P.O. Box 533
Muscat 100
Oman
 
+968 24-591055
+968 24-525000
 
+968 24-591676
 
galfar@omantel.net.om
 
www.galfar.com

 
  Latest Headline
Muscat Security Market index slumps - Gulf News
 
  IPO Details
Listing Date:
24Oct07
Size of Offering:
$156.364M
Equity Offering:
40%
Lead
Managers:
The Financial Corporation Company
 

  Business Overview
It is Oman's Handyman. Established in 1972, Galfar Engineering and Contracting is Oman's largest construction company, with a total workforce of 24,165 employees, OMR260 million (USD678 million) in 2006 revenues, and branches in Brunei, UAE and Qatar.

Galfar's integrated range of activities includes construction, project management, engineering and procurement. It operates through seven business units that focus on oil and gas, structures and buildings, roads and bridges, utilities and services, environmental, expressway and special projects.

Some of Galfar's major projects include the USD330 million Southern Expressway project, a 182 Km superhighway to be completed by August 2009; the USD250 million Kauther Gas Plant, a project being executed by the consortium of PetrofacPetrofacLoading... and Galfar, for processing 20 million standard cubic meters of gas per day, to be completed by August 2008; in July 2006, Petroleum Development OmanPetroleum Development OmanLoading... awarded Galfar two contracts worth USD70 million for three airports at Fahud, Qarn Alam and Marmul, operational by the close of 2007, and for a new blacktop road linking Fahud with Lekhwair, to be completed by 2008; in 2005, Galfar began a USD1 billion contract for Petroleum Development OmanPetroleum Development OmanLoading... and PetrofacPetrofacLoading....

Galfar is planning to raise OMR60 million (USD155 million) by floating 40% of its shares on the Muscat Securities MarketMuscat Securities MarketLoading... through an IPO in May 2007.
 
 
 Major Shareholders
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  Organization Structure and Related Entities
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Al Khalij Heavy Equipment and Engineering Oman 52.17%
Related Organizations
 
Name  Country  Holding
Al Dastoor Contracting and Trading Oman -
Caledonian College of Engineering Oman -
Galfar Engineering and Contracting - UAE UAE -
Musandam Building Materials Oman -
Musandam International General Trading Oman -
 
 
  Representatives
Auditors
 
Deloitte Middle East
 
Banks
Oman Arab Bank
BankMuscat
 
 Summary Financials
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 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
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