Galfar Engineering and Contracting's newly launched Saudi Arabian operations will start bidding for tenders in June this year, according to managing director and vice president Dr P Mohammed Ali.
In the 2011 annual report, Galfar chairman Salim Said Hamad al Fannah al Araimi said the company had registered its branch office in the kingdom, but the company has 'many classification procedures to complete' before it can compete in the tendering process.
"The Saudi market, as we all know, is very large. Our focus will be infrastructure and oil and gas works," he added.
However, speaking to Muscat Daily on the sidelines of the Galfar annual general meeting last week, Dr Ali said that the company has the ability to challenge for projects in a wide range of sectors in the kingdom.
He said, "We have already registered our branch office, and it is now getting pre-qualified. We will be able to bid by June.
"We could be bidding for oil and gas projects or any other projects. We have widespread capability, and this is our advantage, be it roads, dams, ports, electrical or oil and gas."
The registration of the office was completed in the fourth quarter of 2011 and is expected to 'create considerable business opportunities, especially in the oil and gas upstream and downstream industries,' according to the company's 2011 nine-month report.
Last year, the company posted a drop in profits due to the lack of tenders being awarded following the unrest that hit the country early in the year. As a result, gross revenue dropped from RO371.53mn in 2010 to RO307.22mn in 2011, with profits also falling slightly, from RO6mn to RO5.26mn over the same period.
Galfar is optimistic of a stronger performance in 2012 as the government kicks off a number of projects.
The company landed the RO138.93mn first phase of the Batinah Expressway last month.
© Muscat Daily 2012
