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23 August 2016
Muscat - Galfar Engineering and Contracting Co said an award of RO3.63mn has been issued in one of its four arbitration proceedings with Oman Wastewater Services Co (Haya Water) in respect of disputed claims linked to the Seeb sewage project contract-3.
Muscat - Galfar Engineering and Contracting Co said an award of RO3.63mn has been issued in one of its four arbitration proceedings with Oman Wastewater Services Co (Haya Water) in respect of disputed claims linked to the Seeb sewage project contract-3.
"The arbitration has decided in all disputed matters and the award obliged Haya Water to pay to Galfar all awarded amounts in total sum amounting RO3,636,311," Dr Hans Erlings, chief executive officer of Galfar, said in a filing with the Muscat Securities Market (MSM) on Monday.
He said the arbitration decision was notified to the company on Sunday.
Galfar shares rose 1.94 per cent on the Muscat bourse.
In its financial report for the first half of 2016, Galfar said it continues to maintain a healthy order book position of over RO690mn.
Despite good cash collections in the first half, it said delays in the receipt of payments on a number of government projects are a matter of concern.
© Muscat Daily 2016
